This study aims to investigate effects of dissolved oxygen (DO) levels and aerated hydrodynamic retention time (HRT) on nitrogen removal and nitrous oxide (N2O) emissions in a novel anaerobic-swing-anoxic-oxic (ASAO) continuous plug-flow system for treating low carbon to nitrogen ratio municipal wastewater. The swing zones had varying DO levels and volumes, deciding the aerated HRT of the ASAO system. Results showed that low DO level (0.8–1.0 mg/L) and short aerated HRT led to high nitrogen removal performance (91.4 %–96.3 %) and low N2O emission factor (2.8 %). The simultaneous nitrification and denitrification (SND) in swing zones and endogenous denitrification in anoxic zones contributed to the nitrogen removal. Meanwhile, the SND and autotrophic denitrification processes were identified as the N2O sources. Low DO level enriched ammonia-oxidizing bacteria and enhanced the SND and autotrophic denitrification pathway. These findings suggest that the ASAO system is promising for reducing carbon emissions in municipal wastewater treatment.