We investigate reversible and irreversible thermodynamic processes in cosmology and their impact on the Hubble tension. Gravitationally induced adiabatic matter creation/annihilation is treated as irreversible, while energy exchange between the cosmic bulk and horizon is modeled as reversible. Two scenarios are proposed: Model I features matter creation/annihilation across all species with energy transfer to effective entropic dark energy; Model II considers dark matter creation/annihilation with energy flow from baryonic matter and radiation. The creation rate is parameterized as , with energy transfer controlled by . We constrain both models using Pantheon supernovae, CMB distance priors, baryon acoustic oscillations, gamma-ray bursts, and cosmic chronometers, with and without SHES. When SHES is included, matter annihilation () is statistically preferred, yielding km s Mpc (Model I) and km s Mpc (Model II), corresponding to and consistency with the SHES value km s Mpc. Matter creation () or pure energy flow () do not improve the tension. Without SHES, information criteria show no preference over CDM. For the matter annihilation/creation with energy flow, the effective entropic dark energy evolves dynamically, mimicking radiation and matter before recombination and approaching a cosmological constant at late times. These results demonstrate that thermodynamically motivated interactions can alleviate the Hubble tension when calibrated with local measurements, while remaining consistent with cosmological data.

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