An intensive investigation was conducted to study the accumulation, speciation, and distribution of various heavy metals (As, Cd, Cr, Cu, Hg, Ni, Pb, and Zn) in sediments from the Yangtze River catchment of Wuhan, China. The potential ecological risks posed by these heavy metals also were estimated. The median concentrations of most heavy metals (As, Cd, Cr, Cu, Ni, Pb, and Zn) were higher than the background values of soils in Wuhan and were beyond the threshold effect level (TEL), implying heavy metal contamination of the sediments. Carbonate-bound Cd and exchangeable Cd, both of which had high bioavailability, were 40.2% and 30.5% of the total for Cd, respectively, demonstrating that Cd poses a high ecological risk in the sediments. The coefficients of the relationship among Pb, Hg, and Cu were greater than 0.797 using correlation analysis, indicating the highly positive correlation among these three elements. Besides, total organic carbon content played an important role in determining the behaviors of heavy metals in sediments. Principal component analysis was used to study the distribution and potential origin of heavy metals. The result suggested three principal components controlling their variability in sediments, which accounted for 36.72% (factor 1: Hg, Cu, and Pb), 28.69% (factor 2: Cr, Zn, and Ni), and 19.45% (factor 3: As and Cd) of the total variance. Overall, 75% of the studied sediment samples afforded relatively low potential ecological risk despite the fact that generally higher concentrations of heavy metals relative to TEL were detected in the sediments.