Emission reduction of $CH_4$ (methane gas) from rice paddy soil is a very important measure for climate change mitigation in agricultural sector. In this study, we investigated the changes in crop yield and $CH_4$ emissions in response to application of biochar and fertilizers. The experimental site is located in Hwasung, Kyunggido and experimental design is the split-plot method with three replicates. Treatments included rice straw (RS) and biochar (BC) amendments nested with the conventional NPK fertilizer (NPK) and slow release fertilizer (SRF). Control was also prepared with the soil with the conventional NPK fertilization with no amendment. Measurement of $CH_4$ emission was conducted during the growing season of 2014 using a dynamic chamber method. The results showed that application of rice straw increased daily $CH_4$ emission rate by 15%, while application of biochar reduced daily $CH_4$ emission rate by 38%. When we combined biochar application with slow release fertilizer, $CH_4$ emission was reduced by 45%. Further, the crop yield was also increased in all treatments compared with the control except for the treatment of rice straw application with slow release fertilizer. Overall results imply that biochar amendment to agricultural soil can be an effective strategy to decrease annual $CH_4$ emission with no reduction in crop yield.