In recent years, ammonia leakage accidents occur frequently, which causes a great concern in China. Based on traditional risk analysis methods and the equipment characteristics, a risk evaluation method for small ammonia refrigeration units is proposed. The method includes a risk assessment model based on area division, a failure probability assessment method based on expert scoring system, a failure consequence assessment method based on regional population density and consequence mitigation measures, and a HAZOP risk correction method. Based on the proposed method, a risk assessment system of small ammonia refrigeration units is developed. This risk assessment method and system will provide a scientific basis to carry out the cold storage management in China.