Green manure is widely applied in agricultural production due to its beneficial soil modification and fertilization effects. However, the mechanisms underlying the effects of green manure return methods on soil respiration (Rs) and its components remain unclear. This study aimed to investigate the effects of green manure return methods on Rs in maize fields by quantifying Rs levels. A field experiment was conducted from 2021 to 2023 in the inland river oasis irrigation area of Gansu, with five treatment conditions: tillage with a full quantity of green manure incorporated into the soil (TG), no tillage with a full quantity of green manure mulched on the soil surface (NTG), tillage with roots incorporated into the soil and above-ground green manure removed (T), no tillage with above-ground manure removed (NT), and conventional tillage and leisure (CT). The results showed that, compared with CT, the NTG treatment increased the maize grain yield while reducing the soil heterotrophic respiration rate (Rh) by 8.5–9.8% and Rs by 6.7–8.7%, but did not significantly affect the soil autotrophic respiration rate (Ra), and decreased the carbon emission efficiency (CEE) by 20.8–25.6%. The increase in the soil water content (SWC) significantly reduced Rh during all growth periods, which was the primary factor in the reduction of Rs. Additionally, the net ecosystem productivity carbon sequestration (NEP-C) of the farmland ecosystem was positive under this system, indicating that the soil acts as a carbon “sink”. Therefore, a no-tillage treatment with a full quantity of green manure mulched on the soil surface can be used as a reasonable green manure return method to reduce carbon emissions from farmland in arid oasis irrigation regions.