Abstract: A dammed lake caused by a landslide is a common natural disaster in mountainous areas. The emergency response depends on scientific knowledge and a realistic evaluation of the failure risk and procedures. The mechanical behavior of landslide dams under external loads, the progressive failure mechanism of the dammed lake, and the prediction theory of outburst flood are critical scientific issues in the risk assessment of dammed lakes. This study investigates the failure risk and process after the formation of the dammed lake and analyses the hazard assessment methods for the dammed lake from qualitative and quantitative perspectives. The breach mechanism and process and influencing factors of the dammed lake are also described in terms of small-scale, large-scale, and supergravity field test technologies. In addition, the progress of empirical formula approaches and simple and thorough numerical simulation techniques in predicting dammed lake outburst floods is presented and evaluated from the viewpoint of mathematical methods. However, the research on risk assessment of landslide-induced dammed lakes is still in the initial stage worldwide. Future research directions will include integrated monitoring technologies of space-air-ground, uncertain problems in hazard evaluation of dammed lakes, erosion characteristics of landslide debris and breach mechanisms of landslide dams, and elaborate simulation of breach flood of dammed lakes. The review can be a valuable resource for disaster prevention and mitigation of dammed lakes and the risk management of water engineering facilities located within the related catchment.