<p>Heavy metal(loid) contamination in farmland soil is a global environmental challenge, with industrial activities considered a major source. This study establishes a research framework that innovatively integrates the assessments of soil pollution risk and industrial soil risk potential. A case study was conducted in Ningxia, China, using monitoring data for five primarily concerned heavy metal(loid) contaminants in farmland soils and information from 453 key industrial enterprises. The case study revealed the spatial classification and zoning characteristics of comprehensive farmland soil risks in Ningxia. A significant spatial association was also identified between multi-metal(loid) pollution risks and industrial pollution potential. Specifically, we evaluated that the severe combined risk of heavy metal(loid) contamination and industrial pollution potential has impacted 10.15% of farmland soil in Ningxia while observing a statistically significant polynomial correlation between soil contamination-related risks and industry-attributed environmental risk potentials. In conclusion, the proposed methods can deeply depict the integrated effects and interactions between the two principal risk factors—pollution levels and industrial sources—thus enhancing the scientific basis for farmland soil environmental risk assessment and source identification. By linking spatial analytical functions with risk assessment modules, the technical routine for risk spatialization and regionalization provides more informative and practical support for comprehensively evaluating the soil environmental risk. The methods and findings also provide a foundation for developing more scientific and precise soil risk control policies, offering significant practical value for environmental risk management.</p>