Abstract: In order to optimize the weight distribution of risk factors of oil and gas pipeline and improve the accuracy of pipeline risk assessment results, it is in urgent need to develop a weighting method suitable for the risk factors of oil and gas pipelines. In this paper, six kinds of pipeline risk factors were identified by conducting statistical analysis on oil and gas pipeline accidents at home and abroad. Then, the weighting model based on grey correlation theory and entropy weight theory was established to determine the subjective and objective weights of the risk factors of oil and gas pipelines. And the dynamic integrated weight model for risk factors was established based on the deviation minimization theory. Finally, a case study was conducted on one certain pipeline and its four representative time nodes were selected to calculate the subjective weight, objective weight and integrated weight of six pipeline risk factors. It is indicated that the pipeline risk factor weighting method based on subjective-objective integrated weight can effectively calculate the weights of risk factors and is applicable to the risk assessment of oil and gas pipelines.