Nitrogen fertilizer plays an important role in corn cultivation in terms of both economic and environmental aspects. Nitrogen fertilizer positively affects corn yield and the soil organic carbon level, but it also has negative environmental effects through nitrogen-related emissions from soil (e.g., N20, NOx, NO3(-) leaching, etc.). Effects of nitrogen fertilizer on greenhouse gas emissions associated with corn grain are investigated via life cycle assessment. Ecoefficiency analysis is also used to determine an economically and environmentally optimal nitrogen application rate (NAR). The ecoefficiency index in this study is defined as the ratio of economic return due to nitrogen fertilizer to the greenhouse gas emissions of corn cultivation. Greenhouse gas emissions associated with corn grain decrease as NAR increases at a lower NAR until a minimum greenhouse gas emission level is reached because corn yield and soil organic carbon level increase with NAR. Further increasing NAR after a minimum greenhouse gas emission level raises greenhouse gas emissions associated with corn grain. Increased greenhouse gas emissions of corn grain due to nitrous oxide emissions from soil are much higher than reductions of greenhouse gas emissions of corn grain due to corn yield and changes in soil organic carbon levels at a higher NAR. Thus, there exists an environmentally optimal NAR in terms of greenhouse gas emissions. The trends of the ecoefficiency index are similar to those of economic return to nitrogen and greenhouse gas emissions associated with corn grain. Therefore, an appropriate NAR could enhance profitability as well as reduce greenhouse gas emissions associated with corn grain.