Sodium lauroyl sarcosinate (SLS), as a commonly used anionic surfactant in the fields of daily chemical products, medicine, and industry, has attracted considerable attention regarding its human exposure risks. This study systematically explored the interaction between SLS and human serum albumin (HSA) through multi-spectroscopic techniques, isothermal titration calorimetry (ITC), functional analysis, and computational simulation. The results showed that SLS inhibited the activity of esterase activity in a concentration-dependent manner, with the relative activity decreasing to 70.75% at 300 μM. Low concentrations of SLS induced fluorescence quenching and blue shift of HSA, while high concentrations caused fluorescence recovery due to micellar encapsulation. The secondary structure rearrangement of HSA affected by SLS resulted in damage to the hydrogen bonds in the main chain. The binding of HSA to SLS was spontaneous and enthalpy-driven, accompanied by negative enthalpy (ΔH < 0) and entropy changes (ΔS < 0), with electrostatic interactions as the main driving force; the binding constant of 11.9 μM suggested a relatively low binding affinity. Computational simulations verified the specific binding of SLS to the IIA subdomain of HSA, with Lys199 and Lys195 forming hydrogen bonds and ionic bonds with the ligand, respectively, and the complex achieving a stable conformation within 20 ns. This study elucidated that SLS inhibited esterase activity by binding to HSA and inducing conformational rearrangement, providing a theoretical basis for the biological safety evaluation and formulation optimization of SLS.