There are various risks in ship structure during the design and operation. The traditional inspection is mainly accomplished by measuring structural components. It is simple and practical but lacks flexibility, and its effectiveness cannot be easily measured. The risk-based evaluation method can also be used for the risk assessment of the ship structure safety and assist the inspection of ship structure. The failure probability of the ship structure is analyzed by comparing the measured value of the remaining thickness of the ship structure in the different years with the requirements of the rules and regulations. The structural failure consequence evaluation index is evaluated and constructed with the aid of the expert experience. A safety risk evaluation method for the ship structure is built based on the failure mode and effect analysis (FMEA) method. The structural safety risk of a full-scale ship is evaluated by using this safety risk evaluation method to validate its feasibility.