Abandoned mine not only contains a large number of available resources, but also has many risk factors. In order to scientifically determine the reutilization mode and take into account the risk of many abandoned mines, a risk framework of abandoned mines including six dimensions of technical risk, safety risk, environmental risk, community risk, legal risk and financial risk was constructed, and the risk assessment of reutilization was carried out by LEC risk assessment method. Then, from the perspective of risk management, the method combining improved analytic hierarchy process (IAHP) and TOPSIS was proposed to determine the best reutilization mode of abandoned mines. Finally, taking the closed mine of Muchengjian Coal Mine in Jingxi Mining Area as an example, the proposed method was verified. The results show that the high risk factors of the closed mine are mainly concentrated on safety risk and social risk, and ecotourism is selected as the optimum reutilization mode. This risk management-based method can provide a reference for optimizing the reutilization mode of abandoned mines and effectively reduce the negative effects of mine closure.