The Lomagundi-Jatuli Event (LJE) represents perhaps the largest and longest positive carbon isotope excursion of Earth history. However, the synchroneity, scale, and linkage of the LJE to Earth's early history of atmospheric oxygenation remain controversial. Strata of the Paleoproterozoic Jingshan Group of the North China Craton that preserve the isotopic record of the LJE excursion in marble layers and abundant graphite deposits provide an opportunity to elucidate the significance of the LJE. Carbon isotopic values (δ13CV-PDB) of the LJE based on analysis of 20 samples of the Lugezhuang Formation, lower Jingshan Group, range from −0.8 to +9.6 ‰ and display positive co-variance with stable oxygen isotope values (δ18OV-PDB). The positive carbon isotope excursion is constrained to 2140.6 ± 8.5 Ma (MSWD = 0.82, n = 25) based on magmatic zircon UPb geochronology of biotite granulite. Variation of facies-dependent carbon isotope values, the presence of graphite deposits of the Douya Formation, upper Jingshan Group, and the absence of a Ce anomaly in PAAS normalized REE patterns of marble samples suggest that the positive carbon isotope excursion is not linked to a marked increase of organic carbon burial and associated significant atmosphere oxygenation. Elevated concentrations of iron and PAAS-normalized middle REE enrichment of analyzed Jingshan Group marble samples point to anoxic and ferruginous oceanic conditions during accumulation of Jingshan Group carbonate. A positive Eu anomaly (average = 1.58), low La (average = 0.23), (Nd/Yb)N (average = 1.27), and Y/Ho (average = 36.6) anomalies, and negative iron isotope values (average δ56Fe = −0.12 ‰) are consistent with accumulation of Paleoproterozoic Jingshan Group carbonate in a restricted marine setting that was affected by high temperature hydrothermal fluids. Enrichment of the studied samples in heavy carbon isotope suggests elevated bio-productivity in the restricted, redox stratified marine setting in which Jingshan Group carbonate accumulated. Thus, it is likely that the positive stable carbon isotope excursion associated with Jingshan Group strata as well as other contemporaneous isotope excursions are local signals that are linked to a global perturbation of the carbon cycle.