The transition of the Chinese iron and steel industry to ultralow emissions has accelerated the development of denitrification technologies. Considering the existing dual carbon targets, carbon emissions must be considered as a critical indicator when comparing denitrification systems. Consequently, this study provided a comprehensive cost-benefit model for denitrification in the steel industry, encompassing additional carbon emissions resulting from the implementation of denitrification systems. Activated-carbon adsorption and selective catalytic reduction (SCR) systems are two efficient techniques for controlling NOx emissions during sintering. Based on this model, a cost-benefit analysis of these two typical systems was conducted, and the results indicated that the unit flue-gas abatement costs of SCR and activated-carbon adsorption systems were 0.00275 and 0.0126 CNY/m3, and the unit flue-gas abatement benefits were 0.0072 and 0.0179 CNY/m3, respectively. Additionally, the effect of operational characteristics on operating costs, including duration and material prices, was analyzed. When treating the flue gas, the two systems released 0.0020 and 0.0060 kg/m3 of carbon dioxide, respectively. The primary sources of carbon emissions from the SCR and activated-carbon adsorption systems are the production of reducing agents and system operations, respectively. Furthermore, considering the features of the activated carbon adsorption system for simultaneous desulfurization, a SCR- wet flue gas desulfurization (WFGD) technology route was developed for comparison with the activated carbon adsorption system.