Fluorescent carbon dots (CDs) were efficiently synthesized by a one-step microwave-assisted method using diphenylamine as a carbon precursor. The obtained CDs exhibit high stability and strong water solubility. Under UV irradiation, these CDs could emit bright green photoluminescence. These synthesized CDs have an average diameter of 1.8 nm (±0.46) and quantum yield (QY) as high as 44.69% using rhodamine-B as a reference. The CDs’ intensity can be quantitatively quenched by Hg2+ and Fe3+ ions with high sensitivity and low LOD about 9.58 nM and 22.27 nM, respectively, indicating that the CDs sensors can be potentially applied for Hg2+ and Fe3+ detection in aqueous solutions.