Frequent lane changes cause serious traffic safety concerns for road users. The detection and categorization of significant factors affecting frequent lane changing could help to reduce frequent lane-changing risk. The main objective of this research study is to assess and prioritize the significant factors and sub-factors affecting frequent lane changing designed in a three-level hierarchical structure. As a multi-criteria decision-making methodology (MCDM), this study utilizes the analytic hierarchy process (AHP) combined with the best–worst method (BWM) to compare and quantify the specified factors. To illustrate the applicability of the proposed model, a real-life decision-making problem is considered, prioritizing the most significant factors affecting lane changing based on the driver’s responses on a designated questionnaire survey. The proposed model observed fewer pairwise comparisons (PCs) with more consistent and reliable results than the conventional AHP. For level 1 of the three-level hierarchical structure, the AHP–BWM model results show “traffic characteristics” (0.5148) as the most significant factor affecting frequent lane changing, followed by “human” (0.2134), as second-ranked factor. For level 2, “traffic volume” (0.1771) was observed as the most significant factor, followed by “speed” (0.1521). For level 3, the model results show “average speed” (0.0783) as first-rank factor, followed by the factor “rural” (0.0764), as compared to other specified factors. The proposed integrated approach could help decision-makers to focus on highlighted significant factors affecting frequent lane-changing to improve road safety.