Cyclists are at a higher risk of being involved in accidents. To this end, a safer environment for cyclists should be pursued so that they can feel safe while riding their bicycles. Focusing on safety risks that cyclists may face is the main key to preserving safe mobility, reducing accidents, and improving their level of safety during their travel. Identifying and assessing risk factors, as well as informing cyclists about them may lead to an efficient and integrated transportation system. Therefore, the purpose of this research is to introduce a risk index that can be adapted to different road areas in order to measure the degree of how risky these areas are for biking. Cyclists’ behavior and demographics were integrated into the risk index calculation. The methodology followed to obtain the risk index composed of four phases: risk factor identification, risk factor weighting, risk index formulation, and risk index validation. Nineteen risk factors are categorized into four major groups: facility features, infrastructure features, cyclist behavior, and weather and traffic conditions.