This study analyzes the evolution characteristics of “production-living-ecological” space in Zhangjiakou City during the period of 2000–2020, measures its carbon effect in the vertical and horizontal directions, and discusses its ecological relationship and its impact on carbon effect, based on the relationship between “production-living-ecological” space and carbon source/carbon classification system. The results show that “production-living-ecological” space in Zhangjiakou has changed significantly during 2000–2020, with an increase of 710.24 km² in ecological space, 652.55 km² in production-living space and a decrease of 1362.79 km² in production-ecological space. The transformation of the three types of space has become more intense from 2000 to 2020 in Zhangjiakou City. Vertically, the carbon flux of Zhangjiakou City increases from 26.9518 million tons to 48.9436 million tons. Carbon emission is more than carbon uptake and the imbalance of carbon budget is serious during 2000–2020. Horizontally, the carbon absorption intensity of ecological space gradually increases, and the carbon emission intensity of production-ecological space and production-living space continues to decline in Zhangjiakou City. In the past 20 years, the positive carbon flow has increased by 8.23 million tons, and the negative carbon flow has decreased by 11.82 million tons, but the overall net carbon flow is still negative. The spatial ecological relationship among the “production-living-ecological” space has obvious conflicts, mainly manifested as plundering-restriction and competition relationship, showing a negative impact on the carbon.