Because they are widespread and evolutionarily old, epiphytic lichens (ELs) play an important role in global forest ecosystems. ELs are abundant in Siberian forest ecosystems, which are highly vulnerable to climate change; thus, ELs can be important contributors to the carbon (C) cycle. This study aims to address the unknown role of tree-inhabiting ELs in the C cycle of forest ecosystems in Central Siberia, where the EL biomass ranges from 492 to 3200 kg per ha. The main finding of this study is that ELs in a hydrated state can generate CH4 for an extended period (at least two weeks), as determined by an incubation method. At the same EL moisture level, EL CO2 fluxes are species-specific. The pattern of the release or uptake of GHGs by ELs may also alter due to climate change, e.g., changes in precipitation regimes (such as more frequent extreme rainfalls and droughts). Therefore, the EL contribution to the C cycle in forest ecosystems should be assessed, e.g., via the modeling of C cycling. Furthermore, specific factors, such as the EL exposure on the phorophyte stem, the EL biodiversity, and the day/night GHG fluxes, should be considered for a more concise assessment of ELs’ contribution to the C cycle of forest ecosystems and their response to ongoing and projected climate change.