In order to enhance oil and gas pipelines’ geological hazard risk identification and prevention and control capabilities, an important gas gathering pipeline in Southwestern China was selected for the study. The main influencing factors were optimized by comprehensively considering the risk of geological disasters and the vulnerability of disaster bearing bodies. The risk assessment method of geological disasters was constructed, and the evaluation factors were graded by using the spatial analysis function of ArcGIS. The risk of geological hazards in the study area was divided into five levels from high to low by normalization. The results show that this research method can effectively evaluate the current situation of geological hazard risks in gathering and transportation pipelines and provide reliable theoretical support for the management of geological hazards in mountainous oil and gas fields.