The CO2 geological storage technology has been considered as a promising way to effectively reduce CO2 emission and enhance the recovery rate of oil or gas. However, this technology is still in a developing stage and CO2 geological storage project may induce some potential geological and environmental risks, such as vertical deformation differences of the shallow surface, fault activation for triggering earthquakes, the pollution of freshwater aquifers, harms for human health and local ecosystems, and so on. The mentioned potential risks and its induction modes have been analyzed respectively. Then corresponding prevention principles and measures are suggested from such aspects as scientific site selection, risk assessment, project supervision, monitoring and prewarning, and emergency reliefs. And this provides important practical implications for risk assessment and management of CO2 geological storage project.