The purpose of this study was to investigate the distribution pattern, pollution status and potential ecological risk of Cr, Co, Ni, Cu, As, Cd, Sb, and Pb in soils and dominant plants around an abandoned red mud (RM) slag yard in Southwestern China. Soils exhibited representative enrichment and combination characteristics of these metals compared to the background values, ascribed to the leaching of long-term acid rain on the RM dump. The soil was moderately to severely polluted with As and Sb. Cd also posed a moderate ecological risk. Asteraceae species predominated in the RM slag yard, followed by Coriaria sinica and Robinia pseudoacacia. No plants were identified as hyperaccumulators because of low bioconcentration values, whereas Cosmos bipinnata can act as a potential phytostabilizer of heavy metals based on the translocation factor. The results provided effective decision support for reducing heavy metal pollution by phytoremediation RM stacking fields.