Forests provide a range of ecosystem services, including bioenergy supply and carbon sequestration, both contributing to significant climate change mitigation. Oleaginous trees have potential to provide bioenergy supplies through biodiesel-producing seed yield as well as contributing to carbon sequestration. This paper aims to show the provisions of bioenergy and carbon savings through forest rotation management and it will investigate the potential of oleaginous forest management in China. We use the land expectation value (LEV) model to calculate the optimal joint values of timber, seed and total carbon savings, including carbon sequestration from forest and carbon reductions through energy substitutions. The results indicate that combining both values of seeds and carbon savings increase the LEV and rotation age (167,611 Yuan/ha, 78 years) compared to sole timber value (26,053 Yuan/ha, 55 years). The optimization of the LEVs and the resulting optimal rotation ages are significantly sensitive to the discounting rate. Annual biodiesel potential production from Pistacia chinensis can take up 1.7% of the national diesel consumption in China. We conclude that China can use improved forest rotation management as an effective means for achieving goals in its low-carbon energy strategy.