High-resolution meteorological datasets are urgently needed for understanding the hydrological cycle of the Tibetan Plateau (TP), where ground-based meteorological stations are sparse. Rapid advances in remote sensing create possibilities to represent spatiotemporal properties of precipitation at a high resolution. In this study, the hourly precipitation characteristics over the TP from two gridded precipitation products, one from global reanalysis (the fifth generation of the European Center for Medium-Range Weather Forecasts atmospheric reanalysis of the global climate; ERA5) and the other is simulated by Global-to-Regional Integrated forecast SysTem (GRIST) global nonhydrostatic model, are compared against satellite-gauge merged precipitation analysis (China Merged Precipitation Analysis; CMPA) from 27 July to 31 August 2014, and a satellite-retrieved precipitation estimate from the Integrated Multi-satellitE Retrievals for the Global Precipitation Measurement (IMERG) is also evolved. Two aspects are mainly focused on: the spatial distribution and the elevation dependence of hourly precipitation characteristics (including precipitation amount, frequency, intensity, diurnal variations, and frequency–intensity structure). Results indicate that: (1) The precipitation amount, frequency, and intensity of CMPA and IMERG decrease with altitude in the Yarlung Tsangpo river valley (YTRV), but increase at first and then decrease with altitude (except for intensity) in the eastern periphery of TP (EPTP). ERA5 performed well on the variation of precipitation amount with altitude (especially in EPTP), but poorly on the frequency and intensity. GRIST is the antithesis of ERA5, but they all overestimate (underestimate) the frequency (intensity) at all heights; (2) With increasing altitude, the diurnal phase of precipitation of CMPA and IMERG shifted from night to evening in the two sub-regions. IMERG’s diurnal phase is 1 to 3 h earlier than CMPA’s, and the discrepancy decreases (increases) as the altitude increases in YTRV (EPTP). The diurnal phase of precipitation amount and frequency in ERA5 and GRIST is significantly earlier than CMPA, and the frequency peaks around midday except in the basin. GRIST’s simulation of the diurnal variation in intensity at various altitudes is consistent with CMPA; (3) ERA5 and GRIST overestimate (underestimate) the frequency of weak (intense) precipitation, with ERA5’s deviance being the most severe. The deviations increased with altitude. These findings provide intensive metrics to evaluate precipitation in complex terrain and are helpful for deepening the understanding of simulated biases for further improving performance in high-resolution simulation.