In view of the high safety risk in the mixing process of preparing aluminized explosives, the hazard and operability (HAZOP) evaluation method was adopted. Combined with the process unit in the mixing process, system express the actual working process and the method used of HAZOP, and the consequences caused by different deviations were evaluated, and the corresponding improvement measures were put forward to reduce the risk level. The results show that this method can provide a reference for other mixing processes of the same type of aluminum-containing powder.