A novel robust finite time disturbance observer (RFTDO) based on an independent output-finite time composite control (FTCC) scheme is proposed for an air conditioning-system temperature and humidity regulation. The variable air volume (VAV) of the system is represented by two first-order mathematical models for the temperature and humidity dynamics. In the temperature loop dynamics, a RFTDO temperature (RFTDO-T) and an FTCC temperature (FTCC-T) are designed to estimate and reject the lumped disturbances of the temperature subsystem. In the humidity loop, a robust output of the FTCC humidity (FTCC-H) and RFTDO humidity (RFTDO-H) are also designed to estimate and reject the lumped disturbances of the humidity subsystem. Based on Lyapunov theory, the stability proof of the two closed-loop controllers and observers is presented. Comparative simulations are carried out to confirm that the proposed controller outperforms conventional methods and offers greater accuracy of temperature, humidity, and carbon dioxide concentration, having superior regulation performance in terms of a rapid finite time convergence, an outstanding disturbance rejection property, and better energy consumption. In addition to presenting the comparative simulation results from the control applications on the VAV system, the quantitative values are provided to further confirm the superiority of the proposed controller. In particular, the proposed method exhibits the shortest settling time of, respectively, 15 and 40 min to reach the expected temperature and humidity, whereas other comparative controllers require a longer time to settle down.