Abstract: To accurately assess the risk level of supply chain of hydropower engineering program and effectively prevent accidents, risk factors are systematically analyzed and a risk assessment index system composed of 5 primary indexes and 17 secondary indexes for hydropower engineering program is established through grey fuzzy comprehensive evaluation method. The overall weighting of each index is identified through ANP, and the risk matrix is worked out through grey fuzzy comprehensive evaluation. The matter-element method is used to identify the relevance between each factor of the matrix and the fuzzy set, and the risk level of each index and the overall program. The model is applied to the risk assessment of the supply chain of a domestic hydropower engineering program. The results show that the supply chain of the program is at medium-level risk, which is in line with the information from the follow-up investigation.