Taking the economic and financial data of 28 OECD countries from 1980 to 2013, we use the panel logit model to analyze the determinants that can affect the probability of financial risk. Results show that the GDP growth rate, current account balance to GDP ratio and the total reserve to GDP ratio have negative correlation with the financial risk of OECD countries, which means that the probability of financial risk will be reduced when they grow. Exchange rates have positive correlation with the financial risk of OECD countries, which means that the probability of financial risk will increase when it grows.