Continued warming of the Arctic Ocean in coming decades is projected to trigger the release of teragrams (1 Tg = 10⁶ tons) of methane from thawing subsea permafrost on shallow continental shelves and dissociation of methane hydrate on upper continental slopes. On the shallow shelves (<100 m water depth), methane released from the seafloor may reach the atmosphere and potentially amplify global warming. On the other hand, biological uptake of carbon dioxide (CO₂) has the potential to offset the positive warming potential of emitted methane, a process that has not received detailed consideration for these settings. Continuous sea−air gas flux data collected over a shallow ebullitive methane seep field on the Svalbard margin reveal atmospheric CO₂ uptake rates (−33,300 ± 7,900 μmol m⁻²⋅d⁻¹) twice that of surrounding waters and ∼1,900 times greater than the diffusive sea−air methane efflux (17.3 ± 4.8 μmol m⁻²⋅d⁻¹). The negative radiative forcing expected from this CO₂ uptake is up to 231 times greater than the positive radiative forcing from the methane emissions. Surface water characteristics (e.g., high dissolved oxygen, high pH, and enrichment of ¹³C in CO₂) indicate that upwelling of cold, nutrient-rich water from near the seafloor accompanies methane emissions and stimulates CO₂ consumption by photosynthesizing phytoplankton. These findings challenge the widely held perception that areas characterized by shallow-water methane seeps and/or strongly elevated sea−air methane flux always increase the global atmospheric greenhouse gas burden.