Aiming at the problems of strong subjectivity in risk grade judgment, fuzziness and randomness of risk index in levee risk evaluation, a risk evaluation model based on two-dimensional cloud model with combination weighting was proposed by using improved analytic hierarchy process (AHP) and entropy weight method. On the basis of the existing levee safety evaluation criterion, the risk evaluation index system of levee engineering was constructed by considering six aspects, including operation management, levee foundation quality, levee body quality, flood control ability, seepage safety and structural safety. On this basis, the two-dimensional cloud model parameters of each evaluation index belonging to different risk levels were calculated, and the results were output in the form of risk cloud map, which could intuitively judge the risk of caution. Finally, the model was applied to a levee project in the lower Yellow River, and the results were consistent with the actual situation, indicating the reasonability and feasibility of the proposed method.