In this study, the characteristics and spatial distribution of heavy metal pollution in the surface sediments of Haizhou Bay, one of the largest bays in China, were investigated. The potential ecological risks posed by seven heavy metals were analyzed by using the Hakanson comprehensive pollution index and geoaccumulation index (Igeo). A correlation matrix map was applied to explore the relationships between the seven heavy metals and environmental elements. The results showed that the contents of heavy metals in the southern area of Haizhou Bay are high, whereas those in the northern area are low. The results of the pollution assessment of heavy metals were largely consistent between the Igeo method and the potential ecological risk index method. The seven heavy metals ranked in descending order of potential ecological risk coefficient as follows: Hg, Cd, As, Pb, Cu, Cr and Zn. The environmental quality assessment showed that Hg is the main heavy metal pollutant in surface sediments in Haizhou Bay, and some stations have reached a high pollution level and should receive more attention.