Risers are an indispensable component of offshore oil and gas exploitation structures, and they are vulnerable to vortex-induced vibration (VIV). Although many studies have been conducted to investigate the VIV characteristics of risers, the effects of combination of multiple parameters and the relative significance of each parameter on the risers’ VIV characteristics have rarely been considered. In this paper, 36 experimental cases were investigated to study the risers’ VIV characteristics due to the combination of multiple parameters. The natural frequencies, response microstrains and frequencies of VIV for the risers were obtained. Meanwhile, the effect of each parameter and the relative significance of these parameters on the amplitude of VIV in risers were calculated using grey relational analysis (GRA). The results show that all the parameters considered—i.e., material property (modulus and density), end condition, top tension force and flow velocity—affect risers’ VIV response, and the grey relational grade of these parameters are: r 02 ( velocity ) > r 04 ( constraints ) > r 05 ( density ) > r 03 ( tension ) > r 01 ( modulus ) .