The accumulation of ash, heavy metals, and polycyclic aromatic hydrocarbons (collectively called potential accumulating substances, PAS) was evaluated to ascertain the stability of lysis-cryptic growth sludge reduction process (LSRP) for municipal sludge treatment. One sequencing batch reactor (SBR) incorporated with homogenization was run to test the LSRP and another SBR as a control. The continuous monitoring results for 2 months showed that the ash and heavy metals slightly increased, and the polycyclic aromatic hydrocarbons decreased by 18.0%, indicating that there may be negligible accumulations during the LSRP. Their accumulations met pattern I, as demonstrated by statistical analysis, proving no PAS accumulation for LSRP. This was further confirmed by sludge activity and system performance. Moreover, the mechanism for no PAS accumulation was discussed. It was concluded that the LSRP was stable with no worries about PAS accumulation under the operational conditions.