Water and sediments sample from Ikoli Creek, Bayelsa state were analyzed for levels of Heavy Metals (Cd, Cr, Pb Zn and Fe) using atomic absorption spectrometer (GBC Avanta PM AAS, SNA6600) under standard operating conditions and was compared with permissible limits set by World Health Organization (WHO). The mean concentration of different metals in water followed this order: Fe>Cd>Cr>Pb>Zn. Sediments Fe>Zn>Cd>CD>Pb. The health risk assessment of the various heavy metals were calculated. The values for Chronic Daily Intake (CDI) for heavy metals (Cd, Cr, Pb and Zn) were found not detectable except for Iron (Fe) having a high value which was ascribed to the soil composition of the area. Hazard Indices were below 1 for the heavy metals in drinking water samples and the Life Cancer Risk (LCR) indicated no health risk when compared with USEPA recommended standard limits. This study recommended that continuous monitoring of (Cd, Cr, Pb Zn and Fe) in water and sediments of Ikoli Creek should be done to assess the risk of these metals in this creek.