The frequency and intensity of forest fires are amplified by climate change. Substantial quantities of PM1 emitted from forest fires can undergo gradual atmospheric dispersion and long-range transport, thus impacting air quality far from the source. However, the chemical composition and physical properties of PM emitted from forest fires and its changes during atmospheric transport remain uncertain. In this study, the evolution of organic carbon (OC), elemental carbon (EC), water-soluble ions, and water-soluble metals in the particulate phase of smoke emitted from the typical forest vegetation combustion in Southwest China before and after photo-oxidation was investigated in the laboratory. Two aging periods of 5 and 9 days were selected. The OC and TC mass concentrations tended to decrease after 9-days aged compared to fresh emissions. OP, OC2, and OC3 in PM1 are expected to be potential indicators of fresh smoke, while OC3 and OC4 may serve as suitable markers for identifying aged carbon sources from the typical forest vegetation combustion in Southwest China. K+ exhibited the highest abundant water-soluble ion in fresh PM1, whereas NO3− became the most abundant water-soluble ion in aged PM1. NH4NO3 emerged as the primary secondary inorganic aerosol emitted from typical forest vegetation combustion in Southwest China. Notably, a 5-day aging period proved insufficient for the complete formation of the secondary inorganic aerosols NH4NO3 and (NH4)2SO4. After aging, the mass concentration of the water-soluble metal Ni in PM1 from typical forest vegetation combustion in Southwest China decreased, while the mean mass concentrations of all other water-soluble metals increased in varying degrees. These findings provide valuable data support and theoretical guidance for studying the atmospheric evolution of forest fire aerosols, as well as contribute to policy formulation and management of atmospheric environment safety and human health.