The construction safety risks (such as landslides or slumps) of the high-fill subgrade are characterized by uncertainty and variability. In order to ensure the construction safety of the high-fill subgrade of the expressway, a comprehensive risk assessment model of high-fill subgrade construction according to the combination weighting method based on game theory was established. Firstly, settlement rate, lateral differential settlement, horizontal displacement at the foot of the slope, deep horizontal displacement, and excess pore pressure were selected as evaluation indicators, and an evaluation index system of high-fill subgrade was constructed. Secondly, the subjective and objective weights were obtained via the analytic hierarchy process and entropy method. Furthermore, the optimized weights were obtained by introducing game theory, and the construction risk of the high-fill subgrade was evaluated and analyzed using the fuzzy comprehensive evaluation method. Finally, based on the high-fill section of the Zhijiang-Tongren Expressway in Hunan Province (China), the evaluation model was validated through field measurement data. The results show that the safety scores obtained using the three methods of analytic hierarchy process, entropy method, and combination weighting method based on game theory are similar. The combination weighting evaluation model can correct the evaluation result error caused by a single weight and avoid information delay caused by the manual processing and analysis of monitoring data. The high-fill subgrade safety evaluation grade based on the combination weighting method and game theory is consistent with the engineering situation, and its fault tolerance range is within 20%. The evaluation model proposed in this study can scientifically and effectively evaluate the safety risks of high-fill subgrade construction, significantly improving the safety and reliability during the construction process.