This study aims to scientifically evaluate the risk of rainstorm waterlogging disasters in urban subway stations, improve the management of disaster prevention and control, and mitigate the impact of such disasters. To achieve this, a risk assessment analysis was conducted using the Pressure-State-Response (PSR) cloud model. The analysis involved examining the components of the subway station rainstorm waterlogging disaster system, including the disaster-prone environment, disaster-affected body, and disaster-causing factors. Based on the PSR framework, a risk assessment index system for rainstorm waterlogging disasters in subway stations was developed. The entropy weight method and cloud model algorithm were then combined to establish a risk assessment method. By utilizing a cloud generator, the digital characteristics of the risk cloud were calculated, and a risk cloud map was generated to determine the level of risk. Finally, an empirical analysis was carried out at Jin’anqiao Station of the Beijing Subway, providing valuable insights for the evaluation of rainstorm waterlogging disasters in subway stations.