With the green degree of products taken into consideration, a research has been carried out on the selection of recycling channels in closed-loop supply chain. Taking a single manufacturer as the research object, based on the construction of two Stackelberg game models of retailer recycling and third-party recycling, results can be obtained of the optimal product price, recycling effort and member profits under the two models, to be verified by a monotonicity analysis and case analysis. The results show that under the two recycling modes, the green degree of products is in direct proportion to the optimal retail price and the total profit of the supply chain, but in inverse proportion to the optimal recycling effort; the recycling efforts of third-party recyclers are higher than those of retailers, with a critical value for the retail price under the two modes. When the third-party recycling cost saving rate is low, it is suggested that the manufacturer choose the retailer recycling mode. When the third-party recycling cost saving rate is high, it is advisable for the manufacturer to choose the third-party recycling mode.