Returning manure to cropland is an effective approach to simultaneously reduce chemical fertilizer use while improving its efficiency and promoting the resource utilization of livestock waste. A field experiment was conducted in Shanghang County, Southwest Fujian, to investigate the effects of substituting chemical fertilizers with pig slurry at different rates on soil nutrients, double-cropping rice yield, and plant nutrient uptake. Compared with farmers’ conventional fertilization (N 9.89 kg/667 m2, P2O5 0.00 kg/667 m2, K2O 6.00 kg/667 m2, T1), the 100% pig slurry treatment (application rate: 7.06 t/667 m2, containing N 9.89 kg/667 m2, P2O5 24.72 kg/667 m2, K2O 14.13 kg/667 m2) significantly increased early-season rice grain and straw yields by 5.78% and 32.35%, respectively. Plant height, number of productive panicles, grains per panicle, and seed setting rate increased by 3.69%, 15.24%, 4.81%, and 26.79%, respectively, and nitrogen uptake in rice grains was enhanced by 13.67%. The 200% pig slurry treatment (14.12 t/667 m2, containing N 19.78 kg/667 m2, P2O5 49.45 kg/667 m2, K2O 28.26 kg/667 m2) increased late-season rice grain and straw yields by 6.21% and 44.07%, respectively. Plant height, number of productive panicles, and grains per panicle rose by 1.77%, 2.21%, and 12.33%, respectively, while nitrogen, phosphorus, and potassium uptake in rice grains increased by 22.22%, 5.00%, and 3.38%, respectively. Soil physicochemical properties were also markedly improved. In the 100% pig slurry treatment, bulk density, pH, total P, alkali-hydrolyzable N, and available P increased by 2.70%, 4.08%, 36.14%, 3.01%, and 127.06%, respectively, compared with T1 treatment. Corresponding increases in the 200% treatment were 2.70%, 7.55%, 75.90%, 16.10%, and 209.41%. These results provide a scientific basis for determining appropriate pig slurry substitution rates for chemical fertilizers and for promoting manure application in double-cropping rice systems.