Abstract: Organic substitution has always been a focus of research because of its high carbon sequestration and sink enhancement potential. However, soil type and climate characteristics have a great impact on the cooling effect of organic substitution, and there is a lack of targeted research on how high substitution ratio can take into account crop yield and emission reduction effect in typical soil areas. Based on this, this study took Shajiang black soil as the research object, set control (CK), pure fertilizer (OPT) and different organic (chicken manure) substitution (1/4M, 1/2M, 3/4M and M), carried out a two-year soil enrichment experiment, and monitored greenhouse gas (GHGs) emissions during two fertilization periods in wheat season in the second year. The results showed that soil organic carbon increased significantly with the increase of organic replacement ratio, but the increase in the annual carbon sequestration efficiency (SOCSR) has declined. The N₂O emission of the key greenhouse gas increased first and then decreased with the increase of substitution amount. In particular, the N₂O emission of 1/4M treatment was the highest, followed by OPT treatment and 1/2M treatment, while the N₂O emission of CK and M treatment was the lowest. In addition to the 1/4M treatment, the difference of other treatments was not significant and the overall CH₄ emission was not high. Combining N₂O, CH₄ and soil carbon sequestration efficiency (SOCSR), it was found that the Net warming potential (NET-GWP) of farmland with high organic substitution (M) treatment was −5 097.6 kg CO₂_eq hm⁻², which was significantly lower than other treatments, followed by 3/4M and 1/2M treatments. They were −3 523.1 and −2 541.7 kg(CO₂_eq) hm⁻², respectively, while the Net-GWP of OPT and 1/4M treatment was relatively high, with −879.1 and −501.1 kg(CO₂_eq) hm⁻², which was significantly higher than that of other treatments (except CK). The Net-GWP value increases first and then decreases with the organic substitution from zero to full substitution. In addition, N₂O emission and CH₄ absorption in wheat base fertilizer period were significantly higher than those in topdressing period, among which N₂O emission in base fertilizer period accounted for 58.1%−66.7% of the total emission, and CH₄ absorption in base fertilizer period accounted for 55.3%−60.0% of the total absorption. Among different treatments, wheat yield of 1/2M treatment was the highest, followed by 1/4M treatment, 3/4M and OPT treatment again, while total substitution (M) and CK had the lowest yield. Compromise wheat yield and Net-GWP, this study concluded that the short-term application of 50% chicken manure can not only maintain wheat yield in Shajiang black soil, but also achieve obvious carbon sequestration and emission reduction effect, and become the best replacement ratio for comprehensive economic and ecological benefits of Shajiang black soil wheat field.