Guar (Cyamopsis tetragonoloba) is an annual legume tolerant to drought. Guar meal (GM) is a protein- and carbohydrate-rich co-product generated after the mechanical separation of the endosperm from the germ and hull of guar seed. GM has received considerable interest in animal feed as an alternative to soybean meal (SM). In this study, we aimed to assess the nitrogen (N) balance indicators, performance, carcass traits, and main greenhouse gas (GHG) emissions resulting from enteric fermentation (E-CH4) and manure (M-CH4 and N2O). Two tests were performed: (i) a biological trial on 45 pigs (15 animals/group) and (ii) a digestibility test in metabolism cages (N = 15, 5 replicates/group). Three different diets were given to the pigs: one diet was based on 0% GM (SM diet); in the second, GM-50%, GM replaced 50% of the SM; and the third was GM-100%, in which GM fully replaced the SM. The GM and SM diets were analyzed for their proximate composition. A model based on prediction equations was used to estimate the GHGs. GM up to 10% in the diets of finishing pigs did not significantly impact growth performance or carcass traits, although a slight increase in neutral detergent fiber (NDF) was observed. GM up to 10% improved N digestibility (p < 0.0001), net protein utilization (p < 0.0001), the biological value of protein, coefficients of metabolizability, and the coefficient of the total tract’s apparent digestibility. Irrespective of its dietary proportion, GM decreased total nitrogen output (TNO, p = 0.11). A highly significant impact was noted for N2O and E-CH4 (for DM, p < 0.0001), as well as a significant impact for E-CH4, expressed as g CO2 Eq (p = 0.007), and g CO2 Eq. LU (livestock unit, p = 0.005), also reported as ADG (p = 0.024). Manure, M-CH4, was not significantly influenced. In conclusion, GM can replace up to 100% SM and is thus a valuable byproduct that does not alter animal performance and can positively impact N2O and E-CH4.