Objective: Develop two fully automatic osteoporosis screening systems using deep learning (DL) and radiomics (Rad) techniques based on low-dose chest CT (LDCT) images and evaluate their diagnostic effectiveness. Methods: In total, 434 patients who underwent LDCT and bone mineral density (BMD) examination were retrospectively enrolled and divided into the development set (n = 333) and temporal validation set (n = 101). An automatic thoracic vertebra cancellous bone (TVCB) segmentation model was developed. The Dice similarity coefficient (DSC) was used to evaluate the segmentation performance. Furthermore, the three-class Rad and DL models were developed to distinguish osteoporosis, osteopenia, and normal bone mass. The diagnostic performance of these models was evaluated using the receiver operating characteristic (ROC) curve and decision curve analysis (DCA). Results: The automatic segmentation model achieved excellent segmentation performance, with a mean DSC of 0.96 ± 0.02 in the temporal validation set. The Rad model was used to identify osteoporosis, osteopenia, and normal BMD in the temporal validation set, with respective area under the receiver operating characteristic curve (AUC) values of 0.943, 0.801, and 0.932. The DL model achieved higher AUC values of 0.983, 0.906, and 0.969 for the same categories in the same validation set. The Delong test affirmed that both models performed similarly in BMD assessment. However, the accuracy of the DL model is 81.2%, which is better than the 73.3% accuracy of the Rad model in the temporal validation set. Additionally, DCA indicated that the DL model provided a greater net benefit compared to the Rad model across the majority of the reasonable threshold probabilities Conclusions: The automated segmentation framework we developed can accurately segment cancellous bone on low-dose chest CT images. These predictive models, which are based on deep learning and radiomics, provided comparable diagnostic performance in automatic BMD assessment. Nevertheless, it is important to highlight that the DL model demonstrates higher accuracy and precision than the Rad model.