Ridge and furrow plastic film mulching (RFM) has improved net primary productivity (NPP) to a high level in semi-arid rainfed agricultural regions. Yet, it is unclear whether there is still a room for further improvement on NPP while stabilizing soil organic carbon through returning previous maize stover pieces. To address this issue, maize stubbles were smashed into pieces and in situ ploughed into 30 cm topsoil at a semi-arid site in northwest China from 2016 to 2017. This was done using the Pioneer 335 maize variety with three treatments (CK, ridge and furrow without mulching; RFM, ridge and furrow with plastic mulching; RFML, 3.49 t ha−1 of maize stover returning in RFM; RFMH, 5.24 t ha−1 of returning in RFM). The results indicated that maize stover returning exhibited similar trend as RFM at early cool seedling stage, raising the topsoil temperature. However, in warm and dry silking stage (2017), both stover returning rates reduced soil temperatures by 1.33 and 0.8 ◦C relative to RFM and CK (P < 0.05), respectively. The soil water storage increased significantly in RFMH by 17.3% and RFML by 28.5% relative to that of RFM, in a warm and dry growing season (2017). Critically, stover returning increased (P < 0.05) soil organic carbon and light fraction organic carbon turnover across the two growing seasons. By improving hydrothermal conditions, stover returning in RFM increased biomass accumulation and grain yield (P < 0.05), leading to higher (P < 0.05) net economic benefit, with greater above-ground biomass NPP (74.5–93.2%) and below-ground biomass NPP (88.5–89.4%), compared with CK. In conclusion, maize stover returning of stover pieces into topsoil might be a promising solution to enhance carbon turnover for higher net primary productivity on the basis of plastic film mulching in semiarid rainfed region.