Distant water fisheriesis the Marine fishery that catches fishery resources in exclusive economic zones of other countries, and also an important part of pelagic fishery. Meanwhile, Distant water fisheries is high risk and high investment marine industry, involving resources, fisheries, policies, exchange rates and other factors. In a certain level, Distant water fisheries is essentially risk investment, and risk assessment is an important link of risk investment. Risk assessment is conducive to the smooth progress of projects and the stable development of industries. Therefore, it is necessary to carry out risk assessment research on Distant water fisheries. Based on the analysis of the characteristics of DWF industry and the theory of risk and early-warning, the principles of selecting risk assessment indicators for DWF are proposed, and the risk assessment system initially constructed. The evaluation system mainly includes risk factor identification and index classification, including three first-level indicators, 16 second-level indicators and 16 third-level indicators. The construction of this evaluation system will be conducive to the healthy, stable and sustainable development of China's pelagic fishery.