Started from the evolution process of the disaster chain of dammed lake, based on the concept of dammed lake risk assessment, this paper focused on three aspects: the hazard assessment of dammed lake, the breach process and flood routing simulation, and the loss assessment after dammed lake breaching. A comprehensive review has been conducted on the qualitative and quantitative assessment methods around the world, as well as the research status. In addition, the parametric model of beaching, simplified mathematical model, refined mathematical model and flood routing model were compared. The loss calculating method was summarized from two aspects, life loss and economic loss. At last, this paper pointed out the prospect of the future risk assessment of dammed lake in five aspects: uncertainty in the risk assessment, accuracy of outburst flood simulation, quantitative method of outburst loss assessment, quantitative risk assessment system and dynamic risk assessment system.