To understand the influence of Pb/Zn smelter on surrounding environment, 110 soil and 62 wheat grain samples (62 paired samples) were collected nearby a Pb/Zn smelter in Jiaozuo City, Henan Province, China. The content and spatial distribution of metal(loid)s in the soil-wheat system, and the potential health risk via consumption of wheat grains were determined. Results showed that the average content of Pb, Cd, As, Cu, Zn, and Ni in soil were 129.16, 4.28, 17.95, 20.43, 79.36, and 9.42 mg/kg, respectively. The content of Cd in almost all soil samples (99.1%) exceeded the national limitation of China (0.6 mg/kg). Spatial distribution analysis indicated that atmospheric deposition might be the main pollution source of Pb, Cd, As, and Zn in soil. In addition, the average content of Pb, Cd, As, Cu, Zn, and Ni in wheat grain were 0.62, 0.35, 0.10, 3.7, 35.77, and 0.15 mg/kg, respectively, with the average Pb and Cd content exceeding the national limitation of China. The average bioaccumulation factor of these metal(loid)s followed the following order: Zn (0.507) > Cu (0.239) > Cd (0.134) > Ni (0.024) > Pb (0.007) > As (0.006). Health risk assessment indicated that the average noncarcinogenic risk of children (6.78) was much higher than that of adults (2.83), and the carcinogenic risk of almost all wheat grain is higher than the acceptable range, with an average value of 2.43 × 10−2. These results indicated that humans who regularly consume these wheat grains might have a serious risk of noncarcinogenic and carcinogenic diseases.