Accurate water quality estimation is important for water environment monitoring and water resource management and has emerged as a pivotal aspect of ecological rehabilitation and sustainable development. However, due to the strong spatial heterogeneity of water quality parameters, it is still challenging to obtain highly accurate spatial patterns of them. Taking chemical oxygen demand as an example, this study proposes a novel estimation method for generating highly accurate chemical oxygen demand fields in Poyang Lake. Specifically, based on the different water levels and monitoring sites in Poyang Lake, an optimal virtual sensor network was first established. A Taylor expansion-based method with integration of spatial correlation and spatial heterogeneity was developed by considering environmental factors, the optimal virtual sensor network, and existing monitoring stations. The proposed approach was evaluated and compared with other approaches using a leave-one cross-validation process. Results show that the proposed method exhibits good performance in estimating chemical oxygen demand fields in Poyang Lake, with mean absolute error improved by 8% and 33%, respectively, on average, when compared with classical interpolators and remote sensing methods. In addition, the applications of virtual sensors improve the performance of the proposed method, with mean absolute error and root mean squared error values reduced by 20% to 60% over 12 months. The proposed method provides an effective tool for estimating highly accurate spatial fields of chemical oxygen demand concentrations and could be applied to other water quality parameters.