Wastewater treatment plants (WWTPs) are major sources of volatile gaseous compounds, especially in mixed-source systems such as domestic wastewater and landfill leachate. This study aimed to investigate the emission behavior and environmental impact of gaseous substances, such as hydrogen sulfide (H2S), ammonia (NH3), carbon sulfide (CS2), and phosphine (PH3), at a WWTP in Northwest China. Odorants were detected in the air surrounding the grid room (XGS), biochemical treatment tank (SHC), secondary sedimentation tank (ECC), and sludge dewatering room (NTS). For comparison, the upwind boundary (O-SF) and downwind boundaries (O-XF) monitoring points were used, with odor concentrations ranging from 3.95 to 725.27 odor units. The concentration ranges of the odorant substances were 5.27–88.69, 5.61–71.96, 5.70–32.63, and 0.12–5.87 mg/m3 for H2S, NH3, CS2, and PH3, respectively. Meteorological factors such as temperature, relative humidity, and wind speed and direction substantially influence odorant emissions. The concentrations of various odorants and volatile organic compounds (VOCs) detected at the O-XF monitoring point were higher than those detected at the O-SF monitoring point, indicating that the wind intensified their diffusion toward the downwind plant boundary. The average odor intensities of odorant substances emitted from wastewater or sludge treatment equipment were 3.37, 5.09, 4.42, 2.00, and 3.82 for total VOCs, H2S, NH3, CS2, and PH3, respectively. Among them four, with downwind diffusion, only H2S presented olfactory and chronic toxicity risks based on Gaussian plume model calculations. The hazard index ranking across monitoring sites was XGS > NTS > SHC > ECC > O-XF > O-SF. These findings emphasize the urgent need for effective measures to control and mitigate gaseous pollutants emitted by collaborative WWTPS, thereby protecting environmental quality and public health.