Within a systematic approach based on nonrelativistic quantum electrodynamics, we derive the one-loop self-energy correction of order alpha(Z alpha)(4) to the bound-electron g factor. In combination with numerical data, this analytic result improves theoretical predictions for the self-energy correction for carbon and oxygen by an order of magnitude. Basing on one-loop calculations, we obtain the logarithmic two-loop contribution of order alpha(2)(Z alpha)(4)ln([(Z alpha)(-2)] and the dominant part of the corresponding constant term. The results obtained improve the accuracy of the theoretical predictions for the 1S bound-electron g factor and influence the value of the electron mass determined from g-factor measurements.