Since the construction industry is one of China’s high carbon emission industries, to achieve China’s carbon neutrality target by 2060, CO2 emissions in cold regions must be reduced. At the same time, forests have excellent carbon sequestration abilities, so this paper takes residential buildings in severely cold regions as the object of carbon emission reduction research. A model of a two-story building in Changchun was constructed, and the life-cycle carbon emissions of reinforced concrete and wood structures were measured using the life-cycle evaluation method as the basis for calculation and simulation with DesignBuilderVer.7 software. The results show that the life-cycle carbon emission of a wood structure house is 61.46 t less than that of a reinforced concrete house, and the life-cycle carbon emission reduction rate of a wood structure house is 43.39%. Based on the data, it has been proven that wooden structures effectively reduce carbon dioxide emissions during the building life cycle while enhancing building performance, given the same structural conditions.