The Qarhan Salt Lake has attracted increasing attention due to its significant national economic status and increased human activity, especially mining. Therefore, a sediment core collected from the confluence of the Golmud River to the Qarhan Salt Lake was chosen to investigate the concentrations, pollution levels, and ecological assessment of nine targeted elements (Al, As, Cd, Cr, Cu, Ni, P, Pb, and Zn). The excess 210Pb activities were calculated and a sedimentation rate of approximately 0.041 cm/y was estimated. Elements sources were identified, and the results show that Al, As, Cu, Ni, Pb, and Zn were mainly from natural sources, Cd and P were mainly from human input, and Cr appeared to have both sources. For Cd and P there was an increasing trend from 1987 and 1975, respectively, coinciding with the Chinese economic reform, Qarhan Salt Lake development and utilization, and also with the gross domestic product of Haixi State, Qinghai Province. Though the pollution and ecological assessment showed that there was nil to very low contamination and ecological risk, which is different from previous assumptions, the obviously increasing trend of Cd and P in the surface is still a concern. More attention should be paid to Cd and P in the further development of the Qarhan Salt Lake and the Golmud City.