Dicyandiamide (DCD) could reduce composting nitrogen (N) losses, but the decomposes at high temperatures limited its efficacy, which might be mitigated by co-application with biochar (BC) and wood vinegar (WV). Our study revealed that DCD alone or co-applied with BC and WV did not reduce N2O emissions during the composting of chicken manure and wheat straw. However, it significantly decreased NH3 and CH4 emissions by 22.6–45.6% and 53.8–85.6%, respectively, equivalent to a 24.1–44.8% reduction in GWP compared to the control. Furthermore, the combined use of DCD with BC and WV enhanced total N content by 5.6–36.6%, increased the compost accumulation temperature by 3.8–6.1%. DCD alone addition increased the compost dissolved organic matter (DOM) content by 12.2%, and when coupled with BC and WV, it enhances the biological index value to promote new DOM generation. DCD combined with BC could increase the final humus content of compost, thereby enhancing its quality, which approach also produced greater economic benefits (266.3 CNY t−1), compared to conventional composting. In conclusion, co-application of DCD with BC and WV in composting not only reduces the emission of NH3, N2O and CH4, but also increases the compost fertility and provides more economic benefits.