High-resolution combined ZrO-Chelex diffusive gradients in thin-film probes were arranged to synchronously monitor the characteristics of labile phosphorus (P), iron (Fe), and manganese (Mn) in sediments from regions of varying trophic levels in Lake Taihu, China. Results showed that P release was closely related to lake region's trophic level. Labile P in sediments and apparent diffusive flux of P were higher in hyper-eutrophic algae-dominated regions than those in macrophyte-algae-dominated and macrophyte-dominated regions, indicating that P released from sediments may be facilitated in eutrophic environments. A positive correlation observed between DGT-labile P and Fe or Mn, which had similar regional spatial distributions to P, showed that reductive dissolution of Fe-Mn (oxyhydr)oxides (FeOOH-MnOOH) in sediments was responsible for internal P release which was strengthened in eutrophic environments. Ratios of labile Fe or Mn/labile P (defined as LFe/LP and LMn/LP) in sediments in algae-dominated regions showed lower values than those in macrophyte-algae-dominated and macrophyte-dominated regions, further confirmed that FeOOH-MnOOH in algae-dominated regions possessed weaker ability to fix P, which brought out higher pollution risks for overlying water. LFe/LP or LMn/LP also had a significantly positive correlativity with Fd, further testified labile Fe or Mn was much more relevant to the sediment P cycle.