Abstract: In order to deeply explore the evolutionary process and characteristics of social stability risk of reservoir resettlement, and improve the scientific nature of government management decisions, Firstly, the risk transmission chain of reservoir resettlement social stability and the risk indicator system including 4 primary indicators and 15 secondary indicators of economy, government management, living environment and social interaction are established from the perspective of risk perception. Then, based on the established risk transmission chain, the causal relationship between risk factors is qualitatively analyzed. Finally, the system dynamics（SD） evolution model of reservoir resettlement social stability risk is constructed, and the ANP is used to determine the basic weight of each index, and the risk evolution simulation is carried out with an example. The results show that with the investment of funds and the implementation of the government’s pacification measures, the risk value of social stability shows a general trend of rapid increase first, then a rapid decrease, and finally tends to be flat. Its specific characteristics are as follows: the risk amount in the first to third years accumulates rapidly, and rises to the peak in a short time.The risk value in the third to sixth years decreases rapidly due to the intervention of various policies, and the risk value gradually tends to be flat in the sixth year, and keep it descending slowly.