: In this study, effects of pretreatment of corn stover (CS) with sodium hydroxide (NaOH) combined with calcium oxide (CaO) on anaerobic co-digestion of swine manure and CS for biogas production were investigated. Different pretreated-CSs were prepared by adding different doses of NaOH and CaO to CS: Treat-CSA (0.10 g NaOH/g CS), Treat-CSB((0.075 g NaOH + 0.05 g CaO)/g CS), Treat-CSC ((0.05 g NaOH + 0.05 g CaO)/g CS), and Treat-CSD ((0.025 g NaOH + 0.1 g CaO)/g CS). Lignin removal rate, biomass recovery, reduced sugar, methane yield, DT80 (digestion time when biogas achieved 80% of the total biogas), composition of residues, and cost-efficiency were measured to characterize CS after pretreatment and to evaluate the performance of co-digestors fed with swine manure and differently-pretreated CS. The results showed that Treat-CSB showed an excellent lignin removal efficiency and biomass recovery, resulting in the highest methane yield in its co-digestion with swine manure. Since the net benefit of Treat-CSB was calculated to be the highest (i.e., $1.89/ton total solids), therefore, we believe the co-digestion of Treat-CSB and swine manure for biogas production be an effective valorization option for the wastes.