The unique, closed ecosystem of the Black Sea is of significant global importance. The levels and health risk of some trace elements (As, Cd, Cr, Cu, Fe, Ni, Pb and Zn) in wild and farmed mussels (Mytilus galloprovincialis) collected from the Bulgarian part of the Black Sea were determined and using different approaches such as Estimated Daily Intake (EDI), Target Hazard Quotient (THQ), Hazard Index (HI), Target risk (TR), human health risk levels were assessed. The mean maximum concentrations of the elements Cd, Cr, Cu, Fe, Ni, Pb and Zn in all mussel samples were below the maximum permissible limits (MPLs) except that which exceeded the limit of 2.00 mg/kg ww. Eicosapentaenoic (EPA, 20:5n-3) and docosahexaenoic acid (DHA, 22:6n-3) were the major polyunsaturated fatty acids. The fatty acids profile studied mussels showed that the farmed mussels had higher PUFA/SFA ratios, DHA and EPA+DHA content and lower SFA, AI and TI values. The target risk (TR) values for Pb, Cr, Ni and As were calculated, evaluated and showed acceptable or negligible levels. Target hazard quotients (THQs) and hazard index (HI) from elemental intake were below 1 indicated no hazard from consumption. The benefit–risk ratio indicated that wild and cultured M. galloprovincialis are safe for human consumption.