Accurately quantifying the carbon dioxide (CO2) emissions from lakes, especially in urban areas, remains challenging due to constrained temporal resolution in field monitoring. Current lake CO2 flux estimates primarily rely on daylight measurements, yet nighttime emissions is normally overlooked. In this study, a non-dispersive infrared CO2 sensor was applied to measure dissolved CO2 concentrations over a 24-h period in a largest urban lake (Tangxun Lake) in Wuhan City, Central China, yielding extensive data on diel variability of CO2 concentrations and emissions. We showed the practicality and efficiency of the sensor for real-time continuous measurements in lakes. Our findings revealed distinct diurnal variations in CO2 concentrations (Day: 38.58 ± 23.8 μmol L−1; Night: 42.01 ± 20.2 μmol L−1) and fluxes (Day: 7.68 ± 10.34 mmol m−2 d−1; Night: 9.68 ± 9.19 mmol m−2 d−1) in the Tangxun Lake. The balance of photosynthesis and respiration is of utmost importance in modulating diurnal CO2 dynamics and can be influenced by nutrient loadings and temperature. A diel variability correction factor of 1.14 was proposed, suggesting that daytime-only measurements could underestimate CO2 emissions in urban lakes. Our data suggested that samplings between 11:00 and 12:00 could better represent the average diel CO2 fluxes. This study offered valuable insights on the diel variability of CO2 fluxes, emphasizing the importance of in situ continuous measurements to accurately quantify CO2 emissions, facilitating selections of sampling strategies and formulation of management strategies for urban lakes.