Ammonia (NH3), methane (CH4), nitrous oxide (N2O), and carbon dioxide (CO2) emissions from livestock farms contribute to negative environmental impacts such as acidification and climate change. A significant part of these emissions is produced from the decomposition of slurry in livestock facilities, during storage and treatment phases. This research aimed at evaluating the effectiveness of the additive “SOP LAGOON” (made of agricultural gypsum processed with proprietary technology) on (i) NH3 and Greenhouse Gas (GHG) emissions, (ii) slurry properties and N loss. Moreover, the Life Cycle Assessment (LCA) method was applied to assess the potential environmental impact associated with stored slurry treated with the additive. Six barrels were filled with 65 L of cattle slurry, of which three were used as a control while the additive was used in the other three. The results indicated that the use of the additive led to a reduction of total nitrogen, nitrates, and GHG emissions. LCA confirmed the higher environmental sustainability of the scenario with the additive for some environmental impact categories among which climate change. In conclusion, the additive has beneficial effects on both emissions and the environment, and the nitrogen present in the treated slurry could partially displace a mineral fertilizer, which can be considered an environmental credit.