The invention discloses a power grid engineering project risk evaluation method based on a fuzzy analytic hierarchy process. The project period of the power grid project is long, risk factors are complex, the risk factors are difficult to quantify, and therefore the risk of the power grid project is difficult to evaluate. According to the technical scheme, the method comprises the following steps:1) establishing a risk factor hierarchical analysis structure model on the basis of risk identification; 2) constructing a fuzzy complementary judgment matrix of each layer of elements; 3) judging whether the importance weight value of each risk factor is reasonable or not, and carrying out consistency inspection on the fuzzy complementary judgment matrix; And 4) calculating the relative weight of the elements on a certain layer relative to a certain related element on the upper layer, and then calculating the sorting weight of the relative importance of all the elements relative to the target layer from the highest layer to the lowest layer layer by layer. According to the method, the risk of the power grid engineering project can be reasonably evaluated, and effective risk management ofpower grid enterprises is facilitated.