To fulfill the United Nations’ Paris Agreement and the Sustainable Development Goals, China has been adopting strict environmental protection policies. However, it is necessary to make a correct quantitative evaluation on the effect of the policy in order to lay the foundation for further relevant policies and actions in the future. To this end, this paper constructs a composite ecological environment risk index, and uses relevant socio-economic and ecological environment data of China’s provincial regions to quantitatively analyze their ecological environment risks. Furthermore, this paper constructs a panel data model to empirically test the key factors that lead to ecological environment risks. The study finds that, at least at this stage, the ecological environment risks in various provincial regions in China are still relatively high, and the key factors that lead to the risks are economic growth, urbanization development, secondary industry growth and green policy. Therefore, China has to adopt more stringent ecological environment protection policies and actions in the future.