Abstract: Along with the development of Chinese urbanization, the pressure of ground transportation in the city enlarges increasingly, the fast development of underground track projects is of necessity. Since the influence of geological condition and surrounding envirornment on the engineering construction, risks of underground construction is more complicated than that of ground engineering. In order to avoid the huge loss caused by the construction accident, it is very necessary to carry on the risk management. Combined with foundation pit project of chating station of Nanjing metro line two, the risk identification of subway station foundation pit is presented. Based on the risk identification, the analysis and evaluation of risk is carried on by using the matrix method of risk evaluation, and the grade of various risk factor is determined. And combine practice experience of construction, expert analysis and correlative theories, corresponding prevent and control measures is put forward for the risk in construction of metro station foundation pit project.