Selective logging in the tropics is a major driver of forest degradation by altering forest structure and function, including significant losses of aboveground carbon. In this study, we used a 30-year Landsat time series (1985–2015) to analyze forest degradation and carbon emissions due to selective logging in a Forest Reserve of the Venezuelan Amazon. Our work was conducted in two phases: the first, by means of a direct method we detected the infrastructure related to logging at the sub-pixel level, and for the second, we used an indirect approach using buffer areas applied to the results of the selective logging mapping. Pre- and post-logging forest inventory data, combined with the mapping analysis were used to quantify the effects of logging on aboveground carbon emissions for three different sources: hauling, skidding and tree felling. With an overall precision of 0.943, we demonstrate the potential of this method to efficiently map selective logging and forest degradation with commission and omission errors of +7.6 ± 4.5 (Mean ± SD %) and −7.5% ± 9.1 respectively. Forest degradation due to logging directly affected close to 24,480 ha, or about ~1% of the total area of the Imataca Forest Reserve. On average, with a relatively low harvest intensity of 2.8 ± 1.2 trees ha−1 or 10.5 ± 4.6 m3 ha−1, selective logging was responsible for the emission of 61 ± 21.9 Mg C ha−1. Lack of reduced impact logging guidelines contributed to pervasive effects reflected in a mean reduction of ~35% of the aboveground carbon compared to unlogged stands. This research contributes to further improve our understanding of the relationships between selective logging and forest degradation in tropical managed forests and serves as input for the potential implementation of projects for reducing emissions from deforestation and forest degradation (REDD+).