The consumption of contaminated finfish from the polluted river channel of Turag‐Tongi‐Balu, Kamarpara site, Dhaka poses significant health hazards to humans. We used mass spectrometry on chemically digested liquid samples from five fish species from Turag‐Tongi‐Balu to estimate the concentrations of 10 elements (Cr, Mn, Ni, Cu, Zn, As, Se, Cd, Fe, and Pb). Except M. vittatus, the mean concentrations of Cd, Mn, Pb, and Se exceeded the Food Safety Guideline (FSG) value in all fish species. Among the species studied, L. rohita, C. punctata, C. batrachus, H. fossilis, and M. vittatus exhibited higher Mn concentrations surpassing the FSG threshold, thus elevating the non‐carcinogenic risk across all species. There were statistically significant differences (p < .05) in the mean concentrations of heavy metals among fish species. The Target Hazard Quotient (THQ) value of Mn poses a significant non‐carcinogenic risk to human health, while the hazard of other metals is negligible. Except for M. vittus, the Hazard Index value (HI ≥ 1) revealed the risk that all metals exceed the limit and pose a threat to human health. Cd, As, and Ni metals pose a significant carcinogenic risk to human health from the consumption of fish samples, which is a particularly alarming target cancer risk (TCR). In conclusion, regular dietary consumption of fish from this polluted ecosystem of the Turag‐Tongi‐Balu River channel's Kamarpara site poses a significant health risk and is indicated as cancer. This study emphasizes the significance of monitoring heavy metal contamination in finfish and minimizing the risk to human health with effective measures.