Background: Endoscopic submucosal dissection (ESD) is a standardized procedure for intramucosal and slightly invasive submucosal colorectal cancers (CRC). However, the role of ESD for T1b (depth of submucosal invasion: ≥1,000 μm) CRC remains unclear. This study aimed to investigate the long-term efficacy and safety of ESD for T1b CRC. Methods: This study involved 50 patients with T1b CRC who underwent ESD, including 31 who received subsequent surgery (ESD + surgery group) and 19 who reported comorbidities or refused subsequent surgery (ESD-alone group). The clinical outcomes, lymph node metastasis (LNM) rate, and recurrence and survival rates were determined. Results: All the patients achieved en-bloc resection, and 41 patients achieved R0 resection. The mean tumor diameter was 31.2 ± 11.9 mm. LNM was detected in 3 (6%) cases, demonstrating high-grade tumor budding (Bd 2/3) and invasion depth of >1,500 um. LNM was significantly correlated with tumor budding (P = 0.030). The overall median follow-up period was 41.00 ± 27.69 months and 33.16 ± 19.05 months in the ESD-alone and ESD + surgery groups, respectively (P = 0.241). Two patients in the ESD group had local recurrence and two patients died. Patients in the ESD + surgery group reported no local recurrence, distant metastasis, or disease-related death. Recurrence (P = 0.074) and survival rates (P = 0.072) were not significantly different between the two groups. Conclusions: The LNM rate was exceedingly low in patients with T1b. ESD is an effective and safe method for these patients. The necessity of additional surgical treatment after ESD should be comprehensively determined following the patient’s characteristics.