When traffic collisions occur on urban expressways, the consequences, including injuries, the loss of lives, and damage to properties, are more serious. However, the existing research on the severity of expressway traffic collisions has not been deeply explored. The purpose of this research was to investigate how various factors affect the severity of urban expressway collisions. The severity of urban expressway collisions was set as the dependent variable, which could be divided into three categories: slight collisions, severe collisions, and fatal collisions. Ten variables, including individual characteristics, collision characteristics, and road environment conditions, were selected as independent factors. Based on 975 valid urban expressway collisions, an ordered logistic regression model was established to evaluate the impacts of influence factors on the severity of these crashes. The results show that gender, collision modality, road pavement conditions, road surface conditions, and visibility are significant factors that affect the severity of urban expressway collisions. Females were more likely to be involved in more severe urban expressway collisions than males. For collisions involving pedestrians and non-motorized vehicles, the risk of more severe injury was 7.508 times higher than that associated with vehicle–vehicle collisions. The probability of more severe collisions on urban expressways with poor pavement conditions and wet surface conditions is greater than that on urban expressways with good pavement conditions and dry surface conditions. In addition, as visibility increases, the probability of more severe collisions on urban expressways gradually decreases. These results provide more effective strategies to reduce casualties as a result of urban expressway collisions.