As China’s OFDI developed in recent years, investment security issues have become increasingly prominent and how to evaluate the political risks is an important problem that Chinese enterprises currently face. From the perspective of political risk quantitative evaluation, this paper summarizes the status of political risk quantitative evaluation and proposes political risk dimension which contains expropriation and restriction risk, transfer risk and political violence risk. according to the characteristics of political risks which are faced by China’s OFDI, this paper introduces the “Restrictions to China” indicator and the “Aversion to China” indicator, establishes a “Chinese factor” basis political risk evaluation model. This study also uses the entropy weighting method for an empirical calculation, based on the data of 146 countries from 2009 to 2011 and the data of China’s OFDI. The results show that the evaluation model and the method is more effective for the situation of China’s OFDI.