The main purpose of this study was to analyze the Factors Affecting on risk management in wheat production among farmers of Razavieh region (Khorasan-E-Razavi province, Iran). Statistical population of the study was 1520 farmers that they had water cultivation. By using of stratified proportional random sampling 156 respondents were selected from 8 villages. For the calculation of the risk-aversion coefficient degree among farmers, the Safety First Rule model was used. The findings revealed that the dominant respondents (65%) were risk-averse. The results of exploratory factorial analysis showed that five factors determined about 74.267 % from total variance for wheat farmers' risk management that consist of: economy & marketing management factor, planting management factor, harvest management factor, infrastructure management of farming and risk-sharing management factor. From among of the above mentioned factors, the most important factor of risk management in study region was factor of economy & marketing management.