Toxic metals (TMs) in reservoir sediments pose significant risks to ecosystem security and human safety, yet their presence in the cascade reservoirs of the Lancang River remains understudied. This research examined TMs in core sediments from the Manwan (MW) and Dachaoshan (DCS) cascade reservoirs, aiming to elucidate contamination characteristics, controlling factors, and source-specific ecological risks. The study revealed that the concentrations of As, Cd, Cr, Cu, Hg, Ni, and Zn in the MW Reservoir (37.3, 0.54, 95.1, 44.0, 0.09, 44.8, and 135.7 mg/kg) were notably higher compared to the DCS Reservoir (14.6, 0.30, 82.6, 31.0, 0.08, 36.6, and 108.7 mg/kg). While both reservoirs demonstrated elevated contamination levels of Cd and Hg, the MW Reservoir also exhibited high levels of As, whereas the DCS Reservoir showed relatively high levels of Pb. Mining activities in upstream metal deposits significantly correlated Cd, Hg, and Zn in the MW Reservoir with sulfur. In both reservoir sediments, Cr and Ni displayed a greater affinity for iron oxides, while As, Cd, Cu, Hg, and Zn showed more affinity with manganese oxides. Ecological risk index (RI) values in half of the sediments from the MW Reservoir ranged from 300 to 600, denoting a significant ecological risk. Conversely, in the DCS Reservoir, 93.3 % of the sediments exhibited RI values between 150 and 300, signifying a moderate ecological risk. Source-oriented ecological risks highlighted the need for particular attention to Cd from anthropogenic sources in the MW Reservoir. These findings underscore the importance of implementing measures for TM contamination prevention and control, contributing to strategic planning for sustainable water resource management in the Lancang-Mekong River.