Nutrients, organic matter (OM), and heavy metals (HMs) in lake sediments are critical elements contributing to water pollution. In April 2019, surface sediments from Wanghu Lake were collected, and the nutrient, organic matter, and heavy metal content of the sediments were determined. We mainly evaluated the sediment pollutants through four evaluation methods to assess pollution and provide a reference for pollution control in Wanghu Lake. The results indicated that the averages of total phosphorus (TP) and total nitrogen (TN) were (1045.74 ± 190.17) mg/kg, (945.27 ± 203.56) mg/kg; most of them showed serious pollution and moderate pollution, respectively. OM was (32.31 ± 5.11) g/kg. Among them, TP and OM in the northwestern Wanghu Lake were significantly higher than those in the eastern lake (p < 0.05). It shows that nutrients are greatly affected by historical aquaculture and urban human activities. TP was the most serious in the center of the lake, and the source of pollution was mainly the historical deposition. The average of Cd, Cr, Cu, Ni, Pb, Zn, Hg, and As in the sediments were 2.15, 1.09, 1.93, 1.37, 1.28, 1.49, 2.60, 1.77 times that of the soil background values of Hubei Province, respectively. Hg and Cd were the main factors contributing to the surface sediments, with levels at considerable and moderate risks, respectively.