This paper presents a wavelet analysis of temporal and spatial variations of the Earth’s gravitational potential based on tensor product wavelets. The time-space wavelet concept is realized by combining Legendre wavelets for the time domain and spherical wavelets for the space domain. In consequence, a multiresolution analysis for both temporal and spatial resolution is formulated within a unified concept. The method is then numerically realized by using first synthetically generated data and finally two real data sets.