Aquaculture sludge (uneaten feed and faeces) is nutrient rich and has potential as feed for insects. The aim of this study was to investigate the transfer of chemical and biological contaminants, as well as nutrients, from aquaculture sludge to black soldier fly larvae. The larvae were reared on a sludge mixture made of different sludges collected from Norwegian freshwater salmonid facilities. The sludge was spiked with four common salmon pathogens: Infectious Pancreatic Necrosis Virus, Infectious Salmon Anemia virus, Yersinia ruckeri or Mycobacterium salmoniphilum. During the 15 days of growth on sludge, the black soldier fly larvae accumulated valuable nutrients including protein, fat, eicosapentaenoic acid, iron, manganese, zinc and selenium. The larvae also accumulated undesirable substances including cadmium, mercury, dioxins and polychlorinated biphenyls. The concentrations of dioxins exceeded the EU maximum level set for animal feed. None of the salmon pathogens that were spiked to the sludge were detected in the black soldier fly larvae. This study reports low risk of transfer of salmon pathogens from sludge to insect larvae, and showed that the transfer of heavy metals, minerals and metalloids are in accordance with earlier studies. The large variations in levels of heavy metals between batches of sludge can cause levels in BSF exceeding the EU maximum levels, and thus indicate a need for monitoring of the proposed value chain. The transfer of dioxins from sludge to insects, reported for the first time in this paper, would be of special interest for future research, with special focus on risk mitigation.