In order to comprehensively evaluate ecological significance of the water-saving cultivation mode reserving water in early rice to use for late rice" in double cropping rice of southern China, a field experiment was conducted to explore the combined effects of deep water irrigation in rice translating stage with no-tillage and rice straw mulching on yield and greenhouse gases emissions. The results showed that, compared with the convention cultivation (CK),the photosynthetic rates of water-saving cultivation mode were increased by 9.6%-15.2% at the heading stage of rice (P<0.01),whereas the water use efficiency of single leaf was decreased by 13.3%-17.4% (P<0.01). Also, the water-saving cultivation model reduced the number of spikelets in single panicle and the setting rate,subsequently decreasing the rice yield significantly (P < 0.05). Compared with CK, CH_4 emission in the 20-cm-water-layer irrigation treatment was reduced by 6.1%, but was increased by 6.5% and 4.0% in the 15-and 10-cm-water-layer irrigation treatments, respectively. Meanwhile, the N_2O emissions in the 20-and 15-cm-water-layer irrigation treatments were increased. On the whole, the global warming potential (GWP) and CO_2 equivalent emissions per unit of yield in the 20-cm-water-layer irrigation treatment were lower than that of CK. In conclusion,water-saving cultivation model of 20-cm-water-layer irrigation in the transplanting stage with no-tillage and straw mulching can ensure the success of late rice transplanting, reduce greenhouse gas emissions and improve economic and ecological benefits of rice farming.