This study comprehensively investigated the migration behavior and environmental risk of heavy metals (HMs) during the hydrothermal carbonization (HTC) of coking sludge (CS). The results indicated that over 90 % of HMs accumulated in the coking sludge hydrochar (CHC). The decomposition and loss of organic matter led to an increased concentration of HMs with rising temperatures. However, HTC also facilitated the transformation of HMs from bioavailable fractions to more stable fractions. Higher hydrothermal temperatures positively influenced the control of HMs' environmental risks. Ecological risk assessments revealed that the Potential Ecological Risk Index (RI) values of HMs in CHC decreased from 631.15 to 134.23, reaching considerate risk levels. Risk assessment codes indicated that, except for Mn, other HMs were reduced to no risk or low risk after hydrothermal treatment. Furthermore, the magnetic separation performance of CHC was explored, and its practical value was validated using a semi-continuous adsorption-separation device. The results showed that CHC achieved removal rates of 80.41–87.15 % for Congo red (CR) and tetracycline (TC), maintaining stability in various complex water environments. The CHC was rapidly separated after adsorption with a simple magnetic field, achieving a separation and recovery rate of over 80 %. These findings provided theoretical support for the stabilization of HMs in CS and the resource utilization of hydrochar in water treatment applications.