Scholars have paid much attention to the problems existing in the land expropriation risk assessment system and the sound countermeasures from a qualitative perspective. Empirical research on land expropriation social stability risk assessment from the micro-level perspective is limited. This study analyzed the Chinese social stability risk assessment system of land expropriation though a case study of a land expropriation project in China. The current social stability risk assessment system of land expropriation, which includes the assessment purposes, principles, contents, methods, and results, was analyzed. We concluded with lessons and deficiencies from the current social stability risk assessment system. The research findings show that: (1) the current land expropriation risk assessment system mostly takes the land administration department as the main body of responsibility, identifies the risks by means of seminars, visits, letters, and visits, and takes the opinion of the masses or experts as the risk assessment result. (2) The current land expropriation risk assessment system should be standardized in terms of defining the risk assessment of land expropriation, improving the land expropriation risk assessment system and optimizing land expropriation assessment procedures. This paper provides a reference for the sustainable development of land use in rural and urban areas in China.