By using eddy covariance technique, this paper studied the CO2 flux in a Phyllostachys edulis forest ecosystem with high-efficiency management in Zhejiang Province of China from December, 2010 to November, 2011, and analyzed the variations of net ecosystem exchange (NEE), ecosystem respiration (RE), and gross ecosystem exchange (GEE). During the study period, the monthly NEE was always negative, with the maximum (-99.33 g C x m(-2)) in July and the minimum (-23.49 g C x m(-2)) in November, and the seasonal change showed a bimodal shape. The average diurnal change of the monthly CO2 flux varied greatly from -0.30 g CO2 x m(-2) x s(-1) (January) to -0.60 g CO2 x m(-2) x s(-1) (September). The NEE at the time point of positive and negative conversion had obvious seasonal characteristics. The yearly RE changed in unimodal shape, with the maximum in summer and the minimum in winter. The RE at nighttime had significant negative correlation with soil temperature. The yearly NEE, RE, and GEE were -668.40, 932.55, and -1600.95 g C x m(-2) x a(-1), respectively, among which, the NEE occupied 41.8% of the GEE. As compared with other ecosystems, P. edulis forest ecosystem had a strong capability in carbon sequestration.