Abstract: Accurate evaluation of the relative importance of various risk factors is the key to the risk analysis of oil and gas pipeline. To solve the problems existed in determining the comparison matrix by three-scale method and nine-scale method in the analytic hierarchy process, the principle of five-scale method was proposed, and combined with the improved analytic hierarchy process, the index weights of oil and gas pipeline risks were calculated. Then, the importance of the indexes was judged, so as to analyze and evaluate the safety status of oil and gas pipeline accurately and quickly. Finally, collation, statistics and analysis were carried out on the causes of oil and gas pipeline accidents reported publicly at home in recent years. It is shown that the weights calculated by this new method are highly consistent with the statistical results, which verifies the accuracy of the new method.