The objective of this study is investigation of contamination levels and transfer rate of heavy metals and assessment of health risk effects in animal medicines. A total of sixteen items with 148 samples were obtained for this investigation from major herbal medicine producing areas and herbal markets from 2011 to 2012. Inductively coupled plasma mass spectrometer method was conducted for the quantitative analysis of Pb, Cd and As. In addition, the mercury analyzer system was conducted for that of Hg without sample digestion. The average contents of heavy metals in animal medicines were as follows : 1.55 mg/kg for Pb, 0.28 mg/kg for Cd, 0.70 mg/kg for As and 0.047 mg/kg for Hg respectively. The average contents of heavy metals in decoctions were as follows : 0.03 mg/kg for Pb, 0.01 mg/kg for Cd, 0.17 mg/kg for As and 0.003 mg/kg for Hg respectively. The average transfer rates of heavy metals from animal medicines to decoctions were 1.9% for Pb, 3.6% for Cd, 24.2% for As and 6.0% for Hg respectively. Cancer risks of animal medicines and decoctions through slope factor by ministry of environment republic korea and environmental protection agency was $1.36{ imes}10^{-6}$ and $2.50{ imes}10^{-8}$ for Pb and $7.46{ imes}10^{-5}$ and $1.98{ imes}10^{-5}$ for As (assuming that the total arsenic content was equal to the inorganic arsenic) respectively. The hazard index of heavy metals in animal medicines and decoctions was below recommended hazard index as 0.52 and 0.05 respectively. Taken together, cancer risks about Pb and hazard indexes of animal medicines and decoctions indicate that the majority of samples except for some samples with relative high contents of heavy metals were safe. But cancer risks about As of animal medicines indicate that the majority of samples were not relatively safe.