The speciation distribution and potential environmental risk of Cu, Zn, Cd, Pb, Ni, Cr in sediments in suburban outfall of industrial oasis region, Baiyin City were studied by Tessier sequential extraction method, correlation analysis, enrichment factor (EF) and risk assessment code (RAC). The results indicated that, the average concentration of heavy metals in sediments samples of Dongdagou and Xidagou streams exceeded the background levels in Gansu Province, with Cr, as an exception. The enrichment factor suggested that the enrichment of Cd in sediments of Dongdagou and Xidagou streams were very serious, which posed a strong pollution level. Furthermore, the analysis of chemical speciation indicated that Zn, Ni, and Cr in sediments of Dongdagou stream were mainly dominated by the fraction of residual, the existence of Cu and Cd was mainly in organic forms, while Pb was composed mostly by its Fe-Mn oxides fraction; Pb in sediments of Xidagou stream existed by Fe-Mn oxides fraction, other metals mainly appeared with the residual fraction. The risk assessment code (RAC) showed that the risk level of heavy metals in sediments of Dongdagou stream descended in the order: Ni > Cd > Pb > Cu > Zn > Cr, Ni posed a highest risk level. The risk level of heavy metals in sediments of Xidagou stream decreased in the order: Pb > Cd > Ni > Cu > Zn > Cr, Cd, Pb and Ni posed a highest risk level.