Alpine dwarf pine populations are dwelling in a climate-sensitive habitat, where detection of the carbon (C) cycle is still valued for sustainability. Foliar and soil parameters are key factors that combine to jointly affect aboveground C storage in alpine ecosystems, but how they generate combined contributions to aboveground C in alp dwellers still needs more research. In this study, Pinus pumila, a typical alp dwarf pine species in a canyon of the Great Khingan Mountain, was focused on. Their natural populations were investigated for individual growth and needle and soil parameters in plots across six categorized elevations from 800 m to 1200 m. Aboveground C storage was estimated by three allometric models which were all found to increase against increases in elevation. Along the increasing elevational gradient, needle concentrations of nitrogen (N) and phosphorus (P) both showed decreasing trends, but activities of N and P assimilation enzymes and chlorophyl contents, as well as the soil contents of ammonium N and organic matter, all showed increasing trends. Multiple linear regression models indicated that elevation (parameter estimate, PE: +0.01), needle P (PE: +0.66) and chlorophyl contents (PE: +0.60) made jointly positive contributions to estimated C storage while soil pH had a negative contribution (PE: −1.80). For the purpose of sustainable C fixation by alp P. pumila populations, strategies should be considered to increase P availability and control high soil pH. Our results fill the gap about C storage and driving forces in alpine ecosystems, and their applications are not limited to being referenced by other alpine plants.