Peatlands are well developed in large areas of Northeast Asia, where changes in Late Holocene carbon accumulation rate (CAR) have played an important role in influencing the regional carbon cycle. However, the driving mechanisms and periodic signals of these important peatlands have rarely been investigated. The Zhibian peatland is a subalpine peatland, which has a continuous CAR record covering the entire Late Holocene. This peatland is located in Northeast Asia, its carbon dynamics were directly influenced by the East Asian summer monsoon. This peatland recorded direct interactions between the CAR dynamics, solar and El Niño–Southern Oscillation (ENSO) activity. Thus, we selected this peatland as a representative peatland for Northeast Asia. We used spectrum analyses and wavelet analyses to study the periodic signals of CAR dynamics, total solar irradiance (TSI), mean annual precipitation (Pann) and ENSO activity during the Late Holocene. The correlation relationships between the above parameters were investigated to explore the driving mechanisms for CAR dynamics in Northeast Asia peatlands. Our analyses indicate that CAR dynamics show 88a, 210a and 1000a periodicity over the Late Holocene. The potential driving factors, such as the Pann, ENSO and TSI, also indicate similar periodic signals. These relationships further indicate that the Pann, ENSO and TSI played an important role in controlling the CAR variations of Northeast Asia peatlands. Wavelet analyses results suggest that the CAR, Pann and TSI negatively corresponded with the ENSO variations. From the relationship model between these parameters, we concluded that strong solar activity resulted in fewer ENSO events and more precipitation in Northeast Asia. Wet conditions contributed to higher CAR, and vice versa.