Sediments of Yellow Sea dumping sites (YSDS) collected in 2015 were analyzed using the European Community Bureau of Reference (BCR) sequential extraction method to assess the contamination and potential risk to the environment. Cr, Ni, Cu, and Zn exhibited the most dominant residual fraction, whereas Cd was mostly in the exchangeable fraction and Pb in the reducible fraction. Cr contains a significant amount of oxidizable fraction in the dumping area due to the dumping of tannery sludge with high concentrations of Cr, mainly in the organic matter-bound form. The global contamination factor (GCF) showed that high non-residual fractions of Cd and Pb contributed considerably to contamination. Nevertheless, modified potential ecological risk index (MRI) suggested low ecological risk for metals in YSDS because of the low total content of Cd and the small mobile fraction of other metals.