Substance use is an important risk factor for physical and mental health, particularly in adolescents and young adults. The Substance Use Risk Profile Scale (SURPS) is a standardized questionnaire to measure personality traits linked to reinforcement-specific substance use profiles. However, the reliability and validity of Chinese version of the SURPS remains unknown. We therefore examined the reliability and validity of the Chinese version of the 23-item SURPS. A total of 1,431 Chinese adolescents and young adults were enrolled in the study. We used the construct validity, internal reliability, and criteria-related validity analysis to test the validity and reliability of the Chinese version of the 23-item SURPS. The Chinese version of the 23-item SURPS had a better construct validity than the original 28- and 23-item SURPS. The Chinese version of the 23-item SURPS had adequate internal reliability (0.69–0.76) for all four dimensions (Anxiety Sensitivity, Sensation Seeking, Hopelessness, Impulsivity). In addition, the criteria-related validity of the Chinese version of the 23-item SURPS was revealed by significant correlations with depression, life satisfaction, and personality traits. The Chinese version of the 23-item SURPS predicted 37% of substance use (frequency of smoking, drinking, and illicit drug use). The present study revealed that the Chinese version of the 23-item SURPS is a reliable and effective measure of personality traits that are linked to substance-related behavior in Chinese adolescents and young adults.