Abstract: The railway station is a high-risk place for people to gather. Once an earthquake occurs, the loss will be huge. This paper mainly discusses the seismic risk analysis and loss assessment of the railway station. It provides an important theoretical guidance for risk decision-making of disaster prevention and preparedness. Firstly, the vulnerability assessment model of railway station seismic vulnerability assessment is established by the method of capacity-demand spectrum. Subsequently, we take Shenyang North Station, Xinmin Station and Xinchengzi Station in Shenyang as examples. According to the vulnerability assessment model, the potential damage probability of each station was calculated. Then, the direct economic losses caused by the earthquake were estimated. Finally, the results show that the direct economic losses caused by earthquakes at higher magnitudes are higher. There are different damage probabilities in each system of the research object. When the risk of magnitude 5 or 6 earthquake occurs, each system of the railway station is in different damage probability and the probability of minor damage is greater. At the same time, the damage degree of the research object mainly focuses on slight damage.