For the past 60 years, Istanbul has been experiencing an accelerated urban expansion. This urban expansion is leading to the replacement of natural surfaces by various artificial materials. This situation has a critical impact on the environment due to the alteration of heat energy balance. In this study, the effect upon the urban heat island (UHI) of Istanbul was analyzed using 2009 dated Landsat 5 Thematic Mapper (TM) data. An Index Based Built-up Index (IBI) was used to derive artificial surfaces in the study area. To produce the IBI index, Soil-Adjusted Vegetation Index, Normalized Difference Built-up Index, and Modified Normalized Difference Water Index were calculated. Land surface temperature (LST) distribution was derived from Landsat 5 TM images using a mono-window algorithm. In addition, 24 transects were selected, and different regression models were applied to explore the correlation between LST and IBI index. The results show that artificial surfaces have a positive exponential relationship with LST rather than a simple linear one. An ecological evaluation index of the region was calculated to explore the impact of both the vegetated land and the artificial surfaces on the UHI. Therefore, the quantitative relationship of urban components (artificial surfaces, vegetation, and water) and LST was examined using multivariate statistical analysis, and the correlation coefficient was obtained as 0.829. This suggested that the areas with a high rate of urbanization will accelerate the rise of LST and UHI in Istanbul.