Abstract: As a globally recognized clean energy source, the construction of hydropower projects has gradually been favored by society in recent years. However, the large-scale construction of hydropower stations will artificially change the hydrological conditions of the watershed, and the impact on the geological environment is still unknown. Therefore, there is an urgent need to identify the mutual feedback between hydropower projects and the geological environment. Taking the Hengduan Mountains, a densely populated area of hydropower projects in China, as the research area, the first systematic study of hydropower projects and the disturbance disasters in the Hengduan Mountains was conducted. Through remote sensing interpretation and on-site verification, a total of 162 hydropower projects and a total of 2, 841 disturbance disasters were obtained in the six river watersheds of Jinsha River, Lancang River, Min River, Yalong River, Dadu River, and Nu River. The spatial distribution patterns of disasters were analyzed. Combining previous research and the latest results of the team, the analysis of reservoir landslide characteristics under the effect of reservoir water level rise and cyclic fluctuations was conducted, revealing the causes of reservoir landslide instability. On this basis, a hydropower project disturbance disaster risk assessment method was proposed, and risk assessments were carried out for the six river watersheds. Economic and population risk zoning maps of each river basin under different scales of disasters were obtained. This study can provide guidance for future hydropower development in the Hengduan Mountains and its surrounding areas, which is of great significance to ensuring the safe construction of regional projects.