Rice production is the agricultural activity with the highest energy consumption and carbon emission intensity. Water and fertilizer management constitutes an important part of energy input for rice production and a key factor affecting greenhouse gas emissions from paddy fields. Water–fertilizer integration management (AIM) is an automated water and fertilizer management system for large-scale rice production, which can effectively save water and fertilizer resources. At present, the energy utilization and environmental impact of AIM in rice production are not clear. To clarify whether AIM is a water and fertilizer management measure that combines energy conservation and carbon emission reduction, a comparative study between the widely used farmers’ enhanced water and fertilizer management (FEM) in China and AIM was conducted in this paper. Field experiments were conducted to evaluate the rice yield, carbon emission, energy utilization, and economic benefits of the two management methods. The results showed that AIM reduced water and fertilizer inputs, energy inputs, and economic costs by 12.18–28.57%, compared to FEM. The energy utilization efficiency, energy profitability, and energy productivity under AIM were improved by 11.30–12.61%. CH4 and N2O emissions and carbon footprint were reduced by 20.79%, 6.51%, and 16.39%, respectively. Compared with FEM, AIM can effectively improve the utilization efficiency of water and fertilizer resources and reduce carbon emissions. This study presents a mechanized water and fertilizer management approach suitable for large-scale rice production systems in China. By analyzing rice yield, resource utilization efficiency, and environmental benefits, AIM can serve as a crucial management strategy for enhancing productivity, economic returns, and environmental conservation within profitable rice production systems. In the future, further investigation into the impact of AIM on the microbial mechanisms underlying rice yield formation and greenhouse gas emissions is warranted.