Urban green spaces can be intensive water and energy consumers in the cities, particularly in water scarce regions. Though a very efficient use of such resources is necessary, tools for assessing both water and energy consumption and efficiency are not available. In this paper, a new methodology based on water and energy balances is developed for assessing the water-use and energy efficiency in urban green spaces. The proposed balances, adapted from those developed for water supply systems, are specifically tailored for accounting for urban green spaces specificities, namely, landscape water requirements, other uses besides irrigation and over irrigation water losses. The methodology is demonstrated in two case studies of different nature and characteristics: a modern garden with a smart irrigation system and an urban park with traditional irrigation system. The results show that the developed water balances allow to estimate and assess the irrigation efficiency over the years and to assess the effectiveness of implemented water saving measures. The application of the water–energy balance demonstrates the impact of water efficiency measures on the energy efficiency of the irrigation systems. The proposed methodology can be used to assess water and water–energy efficiency in urban green spaces and to identify the most adequate improvement measures, contributing for a better management of the two resources in the cities.