This study investigated heavy metal(HM) soil pollution and evaluated the risk and sources at a legacy tailings pond’s area in Meizhou, China. Result shows that HM accumulation in soil, particularly Cd, Pb, and Zn, were serious. Zn and Cd in tailing soil and all studied elements in field soil had a significant release potential. Four HM sources were identified by positive matrix factorization (PMF) model: cinder and vehicle emissions (11.3%), natural sources (16.3%), tailings pond and human activities (32.8%), tailings pond (39.7%). The soil was severely polluted with Cd, Pb, and Zn, which posed a high potential environmental risk near surrounding area. Column leaching tests showed that large quantities of HMs were released from the tailings soil during simulated rainfall with different pH. This study indicates that the study area has been severely polluted and continues to have a great risk of HM pollution under natural conditions.