[Objective] The variation characteristics and sources of five trace elements Mn, Ni, V, As and Cr in subsidence ponds of different ages in typical mining areas in Huainan were studied in order to provide scientific reference and basis for the risk management, trace elements control in subsidence ponds from coal mining subsidence areas. [Methods] The contents of trace elements Mn, Ni, V, As and Cr in the water samples were determined by ICP-MS. The sources of trace elements were evaluated by pearson correlation and principal component analysis. Meanwhile, the health risk assessment model recommended by the United States Environmental Protection Agency (USEPA) was used to assess the health risks of the elements in subsidence ponds. [Results] ① The contents of trace elements Mn, Ni and V in subsidence pond water with different collapse ages were in line with the limits of Chinese surface water environmental quality standards, and the contents of As and Cr met the water quality standards classⅡof China surface water. ② The general trend of trace elements in subsidence water showed as: young mine＞ old mine＞ middle-aged mine. The contents of trace elements in the subsidence decreased with the increasing age of subsidence ponds. ③ The non-carcinogenic health risk of subsidence water of different ages through drinking water intake would not affect human health. While the carcinogenic elements (As, Cr, Ni) in water bodies of different ages, their average annual carcinogenic health risk values for adult and children was within the acceptable range. Among them, the carcinogenic risk value of As in young mine was much higher, which was close to the USEPA limit. [Conclusion] Due to the coal mining activities, the concentrations of trace elements in the subsidence water reaches the maximum values in the initial stage of coal mining. Therefore, it is necessary to control the risk from sensitive trace elements during initial period of coal mining. The health risk caused by trace elements in the water of subsidence ponds decreased with the increasing subsidence age.