Tree mycorrhizal type is believed to be a key factor controlling soil organic matter dynamics in forests, yet its effects on soil dissolved organic matter (DOM) quantity and biodegradation remain unknown, especially in sub/tropical forests. Here, we used soil water-extractable organic matter (WEOM) as a proxy for soil DOM, and measured water-extractable organic carbon (WEOC), total nitrogen (WETN), and total phosphorus (WETP) concentrations, and WEOM chemical composition (i.e., aromaticity and molecular weight) in the 0–10 cm and 10–30 cm mineral soil depths along the gradient ranging from arbuscular mycorrhizal (AM)- to ectomycorrhizal (ECM)-associated tree dominance in a subtropical secondary forest of southern China. Subsequently, we assessed soil WEOM biodegradation using a 42-day aerobic incubation experiment. At each soil depth, WEOC concentration and WEOC:WETN ratio increased with increasing ECM tree dominance, whereas WEOM aromaticity and molecular weight exhibited an opposite changing trend. Moreover, WEOC concentration correlated positively with soil organic C, total N, total P, and sand content, but correlated negatively with soil pH and clay and silt contents. Soil WEOM biodegradation did not change with ECM tree dominance in 0–10 cm depth but decreased with increasing ECM tree dominance in 10–30 cm depth. Soil WEOM biodegradation was negatively related to WEOC:WETP and WETN:WETP ratios, but was positively related to WEOM aromaticity and molecular weight. These findings suggested that tree mycorrhizal type is a potential indicator of soil DOM concentration and biodegradation, and highlight that the shifts in dominance of AM- and ECM-associated trees will influence soil DOM dynamics by altering soil texture, C:N:P stoichiometry, and C quality in subtropical forests.