Debris flow is a common disaster in mountain regions. The valley slope, storm rainfall and amassed sand-rock materials in a watershed may influence the types of debris flow. The bursting of debris flow is not a pure random event. Field investigations show the periodicity of its burst, but no directive evidence has been found yet. A risk definition of debris flow is proposed here based upon the accumulation and the starting conditions of loose material in channel. According to this definition, the risk of debris flow is of quasi-periodicity. A formula of risk estimation is derived. Analysis of relative factors reveals the relationship between frequency and size of debris flow. For a debris flow creek, the longer the time interval between two occurrences of debris flows is, the bigger the bursting event will be.