The present work describes the study of mercury Hg(II) and lead Pb(II) removal in single and binary component systems into easily prepared chitosan-iron(III) bio-composite beads. Scanning electron microscopy and energy-dispersive X-ray (SEM-EDX) analysis, Fourier transform infrared spectroscopy (FTIR), thermogravimetric analysis (TGA) and point of zero charge (pHpzc) analysis were carried out. The experimental set covered pH study, single and competitive equilibrium, kinetics, chloride and sulfate effects as well as sorption–desorption cycles. In single systems, the Langmuir nonlinear model fitted the experimental data better than the Freundlich and Sips equations. The sorbent material has more affinity to Hg(II) rather than Pb(II) ions, the maximum sorption capacities were 1.8 mmol·g−1 and 0.56 mmol·g−1 for Hg(II) and Pb(II), respectively. The binary systems data were adjusted with competitive Langmuir isotherm model. The presence of sulfate ions in the multicomponent system [Hg(II)-Pb(II)] had a lesser impact on the sorption efficiency than did chloride ions, however, the presence of chloride ions improves the selectivity towards Hg(II) ions. The bio-based material showed good recovery performance of metal ions along three sorption–desorption cycles.