Biogas produced from agricultural waste can have potential benefits, such as offer clean renewable energy, protect the ecological environment, and reduce CO2 emission. However, few studies have been conducted on the biogas potential from agricultural waste and its CO2 emission reduction at the county level. Herein, the biogas potential from agricultural waste was calculated, and its spatial distribution in Hubei Province in 2017 was determined using a geographic information system. Then, an evaluation model for the competitive advantage of the biogas potential from agricultural waste was established using entropy weight and linear weighting methods. Moreover, the space partition of the biogas potential from agricultural waste was obtained through hot spot analysis. Lastly, the standard coal equivalent of biogas, the equivalent of coal consumption of biogas, and the CO2 emission reduction based on the space partition result were estimated. Results showed that the total and average biogas potentials from agricultural waste in Hubei Province were 18,498,317,558.54 and 222,871,295.89 m3, respectively. Qianjiang City, Jianli County, Xiantao City, and Zaoyang City had a high competitive advantage in the biogas potential from agricultural waste. The CO2 emission reduction of the biogas potential from agricultural waste was mainly in classes I and II.