To assess the effects of reforestation on ecosystem carbon storage, a long-term Forest Restoration Experimental Project (FREP) was established in 1991 on southern degraded red soil in Taihe County, Jiangxi Province, China. In this study, we selected five types of plantations: Schima superba plantation (SS), Liquidambar formosana plantation (LF), Pinus massoniana plantation (PM), Pinus elliottii plantation (PE), and P. elliottii and broadleaf mixed plantation (MEB). The unforested land was used as an experimental control check (CK). We aimed to assess the changes in carbon storage in plantations and the factors affecting them. Thirty years after reforestation, the ecosystem carbon storage of the five types of plantations was significantly higher than that of the control site, and there were also significant differences in the ecosystem carbon storage between the different plantation types (p < 0.05). The ecosystem carbon storage of SS, MEB, LF, PM, and PE were 211.71 Mg ha−1, 199.02 Mg ha−1, 160.96 Mg ha−1, 155.01 Mg ha−1, and 142.88 Mg ha−1, respectively. Compared to the CK, these values were increased by 436.8%, 404.6%, 308.1%, 293.1%, and 262.3%, respectively. The ecosystem carbon storage was significantly positively correlated with soil porosity, total nitrogen (TN), and stand density, and was significantly negatively correlated with pH, Pielou’s evenness index (PEI), and the Shannon–Weiner diversity index (SWDI). The soil water content (SWC), bulk density (BD), SWDI, and stand density can be used as indicators of the impact of reforestation plantings on ecosystem carbon storage. The research results has shown that reforestation plantings significantly increase ecosystem carbon storage, and that afforestation should be encouraged on degraded land.