Although recent studies have recognized peatlands as a sink for atmospheric CO2, little is known about the role of Siberian peatlands in the global carbon cycle. We have estimated the Holocene peat and carbon accumulation rate in the peatlands of the southern taiga and subtaiga zones of western Siberia. We explain the accumulation rates by calculating the average peat accumulation rate and the long-term apparent rate of carbon accumulation (LORCA) and by using the model of Clymo (1984, Philosophical Transactions of the Royal Society of London Series B 303, 605–654). At three key areas in the southern taiga and subtaiga zones we studied eight sites, at which the dry bulk density, ash content, and carbon content were measured every 10 cm. Age was established by radiocarbon dating. The average peat accumulation rate at the eight sites varied from 0.35 ± 0.03 to 1.13 ± 0.02 mm yr−1 and the LORCA values of bogs and fens varied from 19.0 ± 1.1 to 69.0 ± 4.4 g C m−2 yr−1. The accumulation rates had different trends especially during the early Holocene, caused by variations in vegetation succession resulting in differences in peat and carbon accumulation rates. The indirect effects of climate change through local hydrology appeared to be more important than direct influences of changes in precipitation and temperature. River valley fens were more drained during wetter periods as a result of deeper river incision, while bogs became wetter. From our dry bulk density results and our age–depth profiles we conclude that compaction is negligible and decay was not a relevant factor for undrained peatlands. These results contribute to our understanding of the influence of peatlands on the global carbon cycle and their potential impact on global change.