This study based on the cognitive-experiential self-theory, with risk attitude as the mediator and livelihood capacity as the moderator, explores the mechanism of the effect of risk perception of COVID-19 on minority ethnic community tourism practitioners’ willingness to change livelihood strategies. Taking 423 tourism practitioners from five minority ethnic tourism communities as the objects of investigation in Gansu Province, China. This paper empirically tests the theoretical model by using Amos and SPSS. The results indicated the following: Risk perception of COVID-19 has a significant positive impact on the willingness of minority ethnic community tourism practitioners to change their livelihood strategies. Risk attitude partially mediated the relationship between risk perception of COVID-19 and willingness to change livelihood strategies. Livelihood capacity negatively moderated the relationship between risk perception of COVID-19 and willingness of minority ethnic community tourism practitioners to change their livelihood strategies. Livelihood capacity also negatively moderated the mediation effect of the relationship between risk perception of COVID-19 and willingness to change livelihood strategies. Based on the research conclusions, it provides theoretical guidance and practical enlightenment for minority ethnic community tourism practitioners on how to improve the stability and sustainability of their livelihoods through the adjustment and transformation of livelihood strategies in the post-epidemic era.