The purpose of this study was to assess the nutrient salts removal efficiency and stability of the aerobic granular sludge (AGS) by change in C/N (carbon to nitrogen) ratio. The laboratory-scale experiments were performed to analyze the removal efficiencies for organic matter and contents of nitrogen, MLSS, sludge volume index, and extracellular polymeric substances (EPS) under C/N ratio conditions of 5.0, 10.0, 15.0, and 20.0. The microorganisms were observed using optical microscope and the microbial communities were analyzed using pyrosequencing. The increase in C/N ratio from 5.0 to 20.0 increased the organic matter and nitrogen removal efficiency to 95.9 and 79.1%, respectively. For the EPS contents, an influencing factor of granule stability, the polysaccharides to protein (PS/PN) ratio increased from 0.55 to 0.79. For the microbial community, the <i>Thauera</i> was the most common genus in ending phase occupying 63.7%. This microorganism is regarded as one contributing to organic matter degradation and improved production of EPS including AGS of microorganism, thus, may be an explanation of the results of this study such as increase in organic material in AGS and improvement of denitrification efficiency and contents of EPS with increase in C/N ratio.