Clay adsorbents are considered an inexpensive and readily available solution for removing heavy metals, including cadmium, from the environment to reduce pollution. In this study, thiol-modified bentonite (SH-Bent) was prepared by grafting cysteamine hydrochloride onto natural bentonite (Bent). The effects of pH, equilibrium contact time, and temperature on the adsorption–desorption behavior of Cd²⁺ were studied, and adsorption isotherm models were applied to examine the adsorption behavior of SH-bent. SH-Bent demonstrated better performance and stability for Cd²⁺ adsorption than Bent. SH-Bent exhibited an enhanced adsorption capacity for Cd²⁺ at equilibrium of 49.3 mg/g at pH 6, 120 min, and 303 K, which was 42-fold higher than that of Bent under the same conditions. An investigation of the desorption behavior of Cd²⁺ adsorbed on Bent and SH-Bent in simulated acid rain revealed that SH-Bent has high stability, with a desorption rate of 5.73% at pH 4.5, 60 min, and 303 K, which was much lower than that demonstrated by Bent under the same conditions (45.68%). The Langmuir equation was the best-fitted adsorption isotherm model, closely followed by the Freundlich, Tempkin, and Dubinin–Radushkevich models. A significant difference in diffusion was observed between the two types of clay according to the intraparticle diffusion model. The adsorption–desorption processes of SH-Bent and Bent fit the pseudo-second-order model best among the five kinetic models examined. The information provided in this study can be used to apply thiol-modified clay for wastewater treatment or for the removal of cadmium from soil.