Most of the developed countries and Korea have continued to invest much money in developing low-carbon vehicles such as electric car, methanol car and hydrogen car to replace the conventional fossil fuel vehicles. Government and local governments of each country, however, grope to construct roads for bicycle and public bicycle rental systems because bicycle is the only ultimate and feasible non-pollution transportation. Most of the current bicycle monitoring systems have achieved automation of rental process in bicycle stations, but they can not monitor bicycles in use. This paper develops GPS-CDMA modem combined terminals and implements a LBS-based bicycle monitoring system using them for public bicycle rental system. The monitoring system collects location information from GPS-CDMA modem combined terminals attached on bicycles and presents the moving tracks of bicycles on a GIS map for easy return and redistribution of bicycles. Also, the system helps to prevent from theft and vandalism of bicycles and to recommend the nearest bicycle station.