A method for estimating and adjusting crop residue parameters may include controlling an operation of a tillage implement as the implement is being towed by a work vehicle across the field to perform a tillage operation and receiving a pre-tilled image of an imaged portion of the field located to one side of a first section of the field as the implement is being towed across the first section of the field. The method may also include receiving a post-tilled image of the imaged portion of the field as the implement is being towed across the field, analyzing the pre-tilled and post-tilled images of the imaged portion of the field to estimate a crop residue parameter for the field, and, when the estimated parameter differs from a target associated with such parameter, actively adjusting the operation of the tillage implement in a manner designed to adjust the crop residue parameter.