Anthropogenic activities release potentially toxic elements into the environment, which contaminate the food chain. The main objective of this research was to analyze the concentrations of As, Cd, Cr, Hg, and Pb in rice grains and soils, establish their correlation and transfer factors between soil and rice grains as well as evaluate their human health risk from consumption of rice cultivated in the Asante Akim area. The levels of As, Cd, Cr, Hg, and Pb in soil and rice samples were assayed using an Agilent 7700 Series inductively coupled plasma-mass spectrophotometer. The mean heavy metal content in soil was 7.5, 0.52, 0.47, 1.30, and 8.69mg/kg for As, Cd, Cr, Hg, and Pb, respectively. Mean levels of the potentially toxic elements in rice were 0.082, 0.27, 0.48, 0.028, and 0.14mg/kg for As, Cd, Cr, Hg, and Pb, respectively. Soil pollution indices showed that the soils were unpolluted with the potentially toxic elements studied. The concentrations of the potentially toxic elements in rice were below the maximum allowable concentration (MAC) recommended by the Codex Alimentary Commission except Cd which was marginally higher than the MAC. Dietary exposure to the elements to consumers was assessed by comparing the estimated daily intake (EDI) to the provisional tolerable daily intake (PTDI). The estimated daily intake values for As, Cd, Cr, Hg, and Pb were 1.45 × 10-4, 4.8 × 10-4, 8.5 × 10-4, 4.95 × 10-5, and 2.4 × 10-4, respectively. The HQ for all the potentially toxic elements was less than the permissible value of 1, suggesting that the consumption of rice from the study area constitutes no potential non-carcinogenic health risk to the population. This study is unique because the risk is evaluated from rice that is directly consumed, and this gives a clearer picture of the risk to humans. Regular monitoring studies should be conducted to ascertain the levels of heavy metals in rice cultivated in the area since heavy metals can accumulate and the concentrations could increase to toxic levels with time.