Background: The aim of risk assessment is to use a rational method to analyze risks and to identify the possible hazards and outcomes for people, equipment, materials, and the environment. Methods: The criteria and indices for assessing the environmental, health, and safety risks of the hydrocracker unit were determined by a Delphi questionnaire in this study. Then, an Environmental Failure Mode and Effects Analysis was applied to evaluate, score, and rank the risks based on their probability of occurrence, severity, probability of detection, extent of pollution, and potential of recycling. Results: According to the results of the Delphi process, 19 out of the 22 items were identified as the main criteria in the environmental, health, and safety risk evaluation of the hydrocracker unit at the Abadan Oil Refinery. However, the results indicated that 67% of the risks associated with the life cycle operation were low while 33% of them were high in terms of intensity. In contrast, 75% of the risks associated with control room operators were low and 25% were high in terms of intensity. On the other hand, 64, 7, and 29% of the risks associated with the activities of site employees were low, moderate, and high in terms of intensity, respectively, while the corresponding figures were 14, 29, and 57% in the case of risks associated with repairs. Conclusion: Based on the results of techniques of environmental failure modes and effects analysis (EFMEA) and Delphi, appropriate methods can be used to identify and reduce risks in similar industries.