The use of tobacco remains a significant public health challenge around the world. Micro and trace elements present in tobacco products pose substantial health risks due to their toxicity and tendency to accumulate in organisms through ingestion or inhalation. This study aims to measure the concentrations of micro and trace elements, including Ti, V, Cr, Mn, Fe, Cu, Zn, Ni, As, Cd, Pb, and Bi in commonly used tobacco‐related products such as chewing tobacco, bidis, and cigarettes in North Karnataka, India. The measurements are conducted using Bruker benchtop S2‐PICOFOX total reflection X‐ray fluorescence (TXRF) combined with a sample suspension method. This paper provides a comprehensive non‐carcinogenic and carcinogenic risk assessment based on the detected concentration of these elements to evaluate their potential impacts on human health. The results revealed higher concentrations of Cr, Mn, Cu, Cd, and Pb in these products compared with previous studies and WHO/FAO acceptable levels. The hazard index (HI) of all the elements shows < 1, which suggests that non‐carcinogenic effects are not expected. However, Mn showed a notable non‐carcinogenic risk (3.05 × 10−03) compared with other elements. Additionally, the total excess lifetime cancer risk (TELCR) value for Cr (3.77 × 10−06) was near the USEPA limit indicating a carcinogenic health risk. A multivariate statistical approach was used to identify sources and relationships among the trace elements. These findings underline the necessity for stringent regulatory measures to limit the presence of these harmful substances in tobacco products to protect public health.