With the world wide development of large-scale FCV demonstration projects, the global number of hydrogen refueling stations has increased rapidly in recent years. As a new energy infrastructure, it has always a public concern whether the hydrogen refueling station could ensure enough safety, which becomes one of the biggest obstacles to the further implementations of hydrogen as energy carrier. Therefore, many studies focus the attentions on risk assessment of hydrogen refueling stations, as reviewed in this paper. Firstly, the current studies are discussed in terms of hazard identification, probability analysis, consequences evaluation and risk measurement. The fault tree analysis and the event tree analysis play important roles in risk assessment studies on hydrogen refueling stations due to the lack of failure probability data for hydrogen infrastructure. Secondly, different points of view on damage limit and risk acceptance criteria are analyzed. A unified or widely accepted damage limit criteria and risk acceptance criteria will be a target for future studies. Thirdly, the progress of studies on hydrogen behavior and consequences is summarized to emphasize the need for improvement in risk assessment of hydrogen refueling stations. The experimental studies and numerical researches both contribute to the development of risk assessment on hydrogen refueling stations. Finally, to facilitate the development of hydrogen infrastructure in China, two suggestions are made. On one hand, risk assessment methodology developed by other countries need to be studied. On the other hand, fundamental researches on hydrogen safety need to be strengthened to provide scientific basis to the establishment of hydrogen regulations, code and standards.