In November 2015, the Fundão Dam collapsed releasing about 35 million m of iron ore tailings into the environment, which covered approximately 15 km of floodplain soils. Four years later, there is still great concern and controversy regarding contamination by heavy metals in the affected areas. Thus, the present study sought to evaluate the heavy metal contents and its distribution in tailings and non-affected soils. Tailings samples were collected in the stretch between Bento Rodrigues and the Candonga hydroelectric plant, in addition to a sample inside the Fundão Dam. Non-affected soils and river sediments from the same region were also collected as a control group. The heavy metal contents in the tailings were lower than in non-affected samples from the same area, discarding the hypothesis of contamination by the tailings mud. The non-affected samples presented high levels of As, Ba, Co, Cr, Cu, Ni and Zn, with at least one sample exceeding the quality reference values (QRV's) established for Minas Gerais state, which indicated a scenario of pre-disaster contamination for the Doce River watershed. Most of the elements (As, Cr, Cu, Ni, V and Zn) were extracted in the residual fraction of the BCR sequential extraction, presenting low risk of release in nature. The health risk assessment for As estimated that all the non-affected soils and sediments from Gualaxo do Norte, Carmo and Doce rivers have carcinogenic risk higher than the acceptable value for children. From our results, it is more likely to conclude that the deposited tailings are not a time-bomb for heavy metals contamination in the region.