Oxygation (O) is a water-saving and energy-saving irrigation method that can also influence the absorption of cadmium (Cd) by rice, but the related mechanism is still unclear. In this study, the relationship between O method and Fe-Mn plaque formation was tested through pot experiments. The Fe-Mn plaque content and Cd concentration were measured during different rice growth periods, and the fitted models based on their correlation were established. The results show that, Fe-Mn plaque formation was the most significant factor affecting Cd accumulation in rice under O conditions. The content of rice root Fe-Mn plaque was higher after the application of O during the filling and maturity stages of rice growth, and Fe-Mn plaque inhibited Cd accumulation in the rice roots and grains and reduced the translocation factors (TFs) from the rice dithionite-citrate-bicarbonate extract (DCB) to the roots (TFDCB-R) and from the roots to the straw (TFStraw-G). O may influence the Fe-Mn plaque formation on the root surface to impede Cd absorption by rice. This research provides theoretical support for the Cd absorption under O conditions.