Waste valorization is an essential aspect of sustainable development. From this perspective, co-hydrothermal carbonization (Co-HTC) is a promising thermochemical process for converting organic waste into hydrochar. Hydrochar is a solid material whose physicochemical properties could make it suitable for adsorbing pollutants such as heavy metals. Accordingly, this work evaluated the hydrochar from Co-HTC of sawdust and nondewatered sewage sludge as a potential adsorbent of heavy metals at low concentrations. In the context of sustainable drainage systems (SuDS), it is notable that heavy metals are present at very low but still potentially harmful concentrations, which presents a potential opportunity for the application of hydrochar. Thus, three hydrochars (H-180, H-215, and H-250), produced by Co-HTC at 180, 215, and 250 °C, were tested herein for their ability to retain lead (Pb²⁺). The H-180 presented better performance than other hydrochars (H-215 and H-250), suggesting that chemisorption could be the main adsorption mechanism. Interestingly, the presence of other cationic heavy metals (Cu²⁺ , Zn²⁺, Cd²⁺, Cr²⁺, and Ni²⁺) did not hinder the Pb²⁺ adsorption, for which the removal efficiency remained close to 100%. In fact, in such a multi-metal system, hydrochar can be suitable for capturing both lead and cadmium. Therefore, the hydrochar from Co-HTC of sawdust and non-dewatered sewage sludge can be useful for removing heavy metals at low concentrations, such as those found in urban runoff waters. Although further studies are required, these findings suggest hydrochar as a potential material for application in SuDS.