Lead is the primary toxic element found in jarosite residue; it is necessary to synthesize simulated lead-containing jarosite residue (SLJS) to investigate its lead release behavior and predict the slag’s stability and potential for secondary environmental pollution. This study explores the ion release behavior, leaching toxicity, and stability of SLJS during freeze–thaw cycles with EDTA (E-FTC). Experimental results demonstrate that the release of lead, iron, and sulfate from SLJS under E-FTC is contingent upon multiple factors, including solution pH, EDTA concentration, freeze–thaw cycles, freezing temperature, and freeze–thaw mode. Specifically, employing an EDTA concentration of 200 mM, a pH of 6, a freezing temperature of −20 °C, and 12 freeze–thaw cycles, the lead release reaches 15.1 mM, accounting for 94.9% of the total lead content, while iron is negligibly released, thus enabling effective separation of lead from iron. Subsequent to E-FTC, the exchangeable lead content exhibits a substantial reduction, accompanied by a marked increase in residual lead, resulting in a remarkable 98% reduction in leaching toxicity. Moreover, the equilibrium concentration of lead in the continuous stable leaching solution is 0.13 mg/L, significantly below the lead toxicity threshold (5 mg/L). Therefore, environmental stability can be greatly enhanced. This study presents a novel approach for the safe disposal of jarosite residue under mild conditions and at low temperatures, contributing to the broader field of environmentally sustainable waste management.