Abstract: Deng Xiaoping's Southern Tour Talks scientifically and systematically answered the questions of the times about where China's reform and opening up was going. It is a masterpiece of reform and opening up and contains rich thoughts on risk prevention of reform and opening up. It also provides theoretical support that guides China's reform and opening up to a steady and long-term development. Specifically speaking, we should theoretically guard against the risk of divergence of consensus on reform and opening up. In practice, we should guard against specific risks in the fields of reform and opening up, such as ideological risk, political risk, economical risk and organizational risk. We should guard against the risk of deterioration of successors in the cause of reform and opening up. It is still of great theoretical and practical significance to explore the thoughts on risk prevention of reform and opening up in the South Talk to promote the steady and long-term development of China's reform and opening up.