A comparative study of the different advanced oxidation processes (Fe(II)-Oxone, Fe(II)-H2O2, and Fe(II)-NaClO) was carried out herein to analyze the characteristics of organic components and the migration of heavy metals in waste activated sludge. With the Fe(II)-Oxone and Fe(II)-H2O2 treatments, sludge dewaterability was significantly improved, however, sludge dewaterability was deteriorated by the Fe(II)-NaClO treatment. The enhanced sludge dewaterability by the Fe(II)-Oxone and Fe(II)-H2O2 treatments was strongly correlated with the shifted organic components, particularly proteins, in soluble extracellular polymeric substances (S-EPS), while the deteriorated sludge dewaterability by the Fe(II)-NaClO treatment was strongly correlated with the over release of organic components from bound EPS (B-EPS) to S-EPS. For both the Fe(II)-Oxone and Fe(II)-H2O2 treatments, the radicals preferentially attacked humic acid-like organic components over the protein-like organic components in S-EPS, while for the Fe(II)-NaClO treatment, interestingly, the radicals preferentially attacked the protein-like organic components in both S-EPS and B-EPS. The hydrophilic functional groups like phenolic OH and CO of polysaccharides may be more preferentially migrated to S-EPS of sludge by the Fe(II)-NaClO treatment compared to the other two treatments. With the Fe(II)-Oxone and Fe(II)-H2O2 treatments, the proportion of aliphatic compounds as well as the much oxygenated organic components with a low desaturation and a low molecular weight increased. While with the Fe(II)-NaClO treatment, the proportion of low oxygenated organic components with a high desaturation and a high molecular weight increased. The concentration of total organic carbon, particularly the concentration of proteins, may be the key factor determining the shift of Zn and Cu from sludge solid to liquid phase, along with the high oxidation extent of organic components and close binding to CHOS and CHON compounds as indicated by density functional theory (DFT) calculation. This study systematically revealed the simultaneous sludge dewatering and migration of heavy metals when the role of organic components was factored into herein.