Ecological risk assessment (ERA) plays an important role in ecosystem management and conservation. Due to the complex relationship among multirisk sources, multiple receptors, and multiple endpoints, the conventional ERA method has shortcomings when determining the definite protected objects, closely related to the functions of an ecosystem, and when implementing an assessment into practice. Introduction of ecological services into ERA can effectively fix these deficiencies and thus improve the assessment method; this approach has become one of the hot areas in this field of cutting-edge scientific research. In the present study, we systematically analyzed the role of an ecological service in the processes of ERA. We showed that integration of the ecological-service theory into ERA enables this method to explicitly ascertain the protected objects and attributes at the question formation stage, focus on the structures and processes of an ecosystem at the risk assessment stage, provide clear results of the evaluation at the risk characterization stage, and to strengthen the risk communication and evaluation in subsequent phases. Therefore, an ecological service is an ideal assessment endpoint in ERA. In practice, ERA that is based on ecological services can be carried out on three scales. For a particular functional ecosystem or ecosystem's protected function, the evaluation method can be established according to the entity and attributes of a particular service, and then the researcher can utilize the impact matrix method to analyze the relation between the ecological service and the corresponding pressure. Second, considering the characteristics of an ecosystem such as integrity or dynamics, the evaluation method can be established on the basis of the complex role of the ecosystem. Ecological models such as the ecological network can be used to analyze the effects on an ecological service in relation to changes in ecological structures and functions. Third, for a specified socioecosystem, the DPSIR (drive-pressure-state-impact-response) framework can be modified to analyze the influences of pressures on human well-being based on the following process: driving factors-pressure-status change (environmental ecological elements)-impact (ecological service)-response (risk assessment). From the standpoint of landscape pattern-process, analysis of the spatial relation between the change in a landscape service and a risk source is useful for implementing the assessment into practice and taking effective measures. Besides, analysis of the trade-off between diverse ecological services was also helpful for risk management. In this study, we also analyzed the characterization form and applied cases of an ecological service to ERA; these situations include the loss of an ecological service and disservice. The features and advantages of the thermodynamic index serving as an evaluation dimension are also discussed here. Finally, we provide some suggestions on future studies on ecological service-based ERA in terms of the theory, assessment method, and risk management. As for the theory, an integrated index as well as representative parameters for ecological processes are needed. Regarding the method, it is useful to build a state-of-the-art ecological-risk assessment model for simulation of the effects of an ecosystem service according to various driving scenarios based on theory research, considering the characteristics of the ecosystem. In terms of risk management, in relation to theoretical methods of ecological service management and landscape ecology services, it is imperative to enhance the ecological risk community and management by strengthening the link between the evaluation process and the socioecological management process, with integration of theories and methods of ecological-service management and landscape ecology services.