Sewage sludge, a by-product of wastewater treatment, is garnering increasing attention in the pursuit of closed-loop economy practices due to its highly beneficial fertilizing properties. However, like any technique, using sewage sludge as fertilizer has potential and limitations. Heavy metals within sewage sludge are a primary limitation curtailing its application as a fertilizer. This study collected sewage sludge samples from four wastewater treatment plants and soil from potential application sites. The mobility of heavy metals was then examined using a sequential BCR analysis. Furthermore, a comprehensive environmental risk assessment associated with the agricultural use of sewage sludge was conducted, using various risk indicators such as Igeo and Nemerov, to compare the cumulative metal concentrations in the sewage sludge and soil. Additionally, risk assessment codes, ecological risk indices of metal mobility, and environmental risk indices were calculated, specifically focusing on the mobility of metals in the soil environment. This research demonstrates that sewage sludge failing to meet conventional criteria for agricultural use based on total metal content does not necessarily pose a high-risk application. Understanding the mobility forms of metals in sewage sludge is crucial, influencing the analysis of their potential utilization. Importantly, sewage sludge from wastewater treatment plants utilizing biological bed technology tends to exhibit a higher tendency of heavy metals to exist in mobile forms, migrating within the soil environment.