There are a series of problems in China, such as low farmers’ income, difficulty in financing for farmers, and relatively lag in rural financial reform. The mortgage financing of farmland management rights is one of the important ways to solve these thorny problems and promote economic development. From the perspective of farmers, combined with empirical analysis, this paper fully considers farmers’ ideas, carries out risk identification and risk assessment for the mortgage loan of farmland management rights, and continuously improves the relevant risk prevention mechanism to reduce the operation risk of farmers’ farmland mortgage. This paper expounds the establishment principles of the risk evaluation index system in detail, lays a theoretical foundation for the selection of indicators, determines the risk evaluation system of land management right mortgage financing from the perspective of farmers, and builds a fuzzy-level comprehensive evaluation model. Based on the practical research data, the fuzzy hierarchy (F-AHP) comprehensive evaluation method is used to conduct an empirical comprehensive evaluation on the risk of the mortgage loan of the farmland management right and analyze the evaluation results. Among the surveyed farmers in the survey area, 242 have not actually participated in the mortgage loan of farmland management rights, accounting for 94.16% of the sample farmers. However, there are only 15 farmers who actually use the farmland management right for mortgage financing, accounting for 5.84% of the sample.