Background: Ethiopia is endowed with abundant bamboo resources. However, little is known about biomass, carbon sequestration and storage potential of bamboos. Therefore, this study was conducted to estimate the carbon sequestration and storage potential of Oxytenanthera abyssinica forests in Lower Beles River Basin, Northwestern Ethiopia. To this end, A total of 54 circular plots of 100 m2, with plots having a radius of 5.64, were established to conduct the inventory in Assitsa and Eddida bamboo forests, the typical bamboo sites in Lower Beles River Basin. Biomass accumulation of bamboo was estimated using an allometric equation based on diameter at breast height (DBH) and age. Soil samples were taken from two different soil depths (0 – 15 and 15 – 30 cm) to determine soil organic carbon.Results: Results indicate that a total of 1,620 bamboo culms were measured in the bamboo forests. The mean biomass of the bamboo forests in the study area accounted for about 140.11 ± 2.55 Mg ha-1. The mean biomass carbon and soil organic carbon stock of the bamboo forests were 65. 85 ± 1.19 and 69.70 ± 1.83 Mg C ha-1, respectively. Therefore, the mean carbon stock of the O. abyssinica bamboo forests was 135.63 ± 2.33 Mg C ha-1 with 497.8 ± 8.55 CO2 equivalents. Conclusion: Generally, the O. abyssinica bamboo forests of the study area have significant role in climate change mitigation. Therefore, sustainable management of these crucial vegetation resources will enhance their role in carbon sequestration and thereby, climate change mitigation.