To explore the importance of the Eurasian steppe region (EASR) in global carbon cycling, we analyzed the spatiotemporal dynamics of the aboveground net primary productivity (ANPP) of the entire EASR from 1982 to 2013. The ANPP in the EASR was estimated from the Integrated ANPPNDVI model, which is an empirical model developed based on field‐observed ANPP and long‐term normalized difference vegetation index (NDVI) data. The optimal composite period of NDVI data was identified by considering spatial heterogeneities across the study area in the Integrated ANPPNDVI model. EASR's ANPP had apparent zonal patterns along hydrothermal gradients, and the mean annual value was 43.78 g C m−2 yr−1, which was lower than the global grasslands average. Compared to other important natural grasslands, EASR's ANPP was lower than the North American, South American, and African grasslands. The total aboveground net primary productivity (TANPP) was found to be 378.97 Tg C yr−1, which accounted for 8.18%–36.03% of the TANPP for all grasslands. In addition, EASR's TANPP was higher than that of the grasslands in North America, South America, and Africa. The EASR's TANPP increased in a fluctuating manner throughout the entire period of 1982–2013. The increasing trend was greater than that for North American and South American and was lower than that for African grasslands over the same period. The years 1995 and 2007 were two turning points at which trends in EASR's TANPP significantly changed. Our analysis demonstrated that the EASR has been playing a substantial and progressively more important role in global carbon sequestration. In addition, in the development of empirical NDVI‐based ANPP models, the early–middle growing season averaged NDVI, the middle–late growing season averaged NDVI and the annual maximum NDVI are recommended for use for semi‐humid regions, semi‐arid regions, and desert vegetation in semi‐arid regions, respectively.