To investigate the release characteristics and environmental impacts of pollutants from stockpiled coal fly ash, this study focused on the circulating fluidized bed coal fly ash from a power plant in Yulin, Shaanxi Province. The research explored the release patterns and environmental risks of Cr, Cu, As, Se, Mo, Ba, F-, COD, and TN under the influence of rainfall. The results indicated that, the leaching rates of pollutants during the leaching process followed the order was Mo > Se > F- > TN > As > Cu > Ba > COD > Cr. Mo had the highest release rate (77.74%) and Cr the lowest, which was related to its predominant as residual species in the coal fly ash. During the column leaching process, the concentration of F- initially decreased, then increased, and eventually stabilized, while the concentrations of other pollutants generally decrease over time before stabilizing. Under different pH conditions, the release amounts of Cr, Cu, As, and Ba was highest at pH = 3, Se, COD, and TN at pH = 5, and Mo and F- at pH = 7. Kinetic analysis showed that the release of Cr, Cu, Se, Mo, and Ba followed a second-order kinetic model, while F-, COD, and TN fitted the Freundlich model. As followed a parabolic model at pH = 3 and the Freundlich model at pH = 5 and 7. Based on model fits, Se and F- were predicted to exceed local soil background levels within five years. Risk assessment results indicated that the concentrations of As, Se, Mo, F-, COD, and TN in the leachate exceeded the Class Ⅲ standard limits for surface water and groundwater. RAC evaluation showed that the risk of trace elements followed the order was Se > As > Mo > Cu > Ba > Cr, with Se posing a medium risk and the others a low risk. Potential ecological risk assessment indicated that As, Cu, and Cr pose minor ecological risks. Both methods showed consistent risk rankings for As, Cu, and Cr, with As > Cu > Cr. These findings provide a reference for understanding pollutants release and managing the environmental risks associated with coal fly ash.