Thermally processed food always contains various types of harmful substances. Control of their levels in food is important for human health. This work used the extracts from green tea dust, old green tea, yellow tea, white tea, oolong tea, and black tea to simultaneously mitigate diverse harmful substances in fried potato chips. The six tea extracts (30 g/L) all showed considerable inhibitory effects on the formation of 5-hydroxymethylfurfural (reduced by 19.8%–53.2%), glyoxal (26.9%–36.6%), and methylglyoxal (16.1%–75.1%). Green tea and black tea extracts exhibited better inhibitory abilities than the other three teas and were further investigated for other harmful compounds by various concentration treatments. Finally, pre-soaking of fresh potato slices in 50 g/L extracts of green tea dust displayed, overall, the most promising inhibitory capacity of HMF (decreased by 73.3%), glyoxal (20.3%), methylglyoxal (69.7%), acrylamide (21.8%), and fluorescent AGEs (42.9%) in fried potato chips, while it exhibited the least impact on the color and texture. The high level of catechins in green tea dust may contribute most to its outstanding inhibitory effect, whereas the distinguished inhibitory effect of black tea extract was speculated to be attributable to the high levels of theaflavins and amino acids in the fully fermented tea. This study indicated that green tea dust, a predominant waste of the tea industry, had great potential to be exploited to improve food quality and safety.