Risk evaluation is an effective way to reduce the impacts of natural hazards and it plays an increasingly important role in emergency management. Traditional methods of assessing risks mainly utilize Geographic Information System (GIS) to get risk map, and information diffusion method (IDM) to deal with incomplete data sets. However, there are few papers discuss the uncertainty of integrated hazards and consider dynamic risk under time dimension. The model proposed in this study combines the variable fuzzy set theory with information diffusion method (VFS-IDM) to solve the uncertainness of multiple hazards dynamic risk assessment when data sets are incomplete. This study employs fuzzy set theory (VFS) to calculate the relative membership degree and applies information entropy method (IEM) to obtain the weights of criteria indicators for multiple hazards evaluation. Then applies information diffusion method (IDM) to estimate condition probability distribution and vulnerability curve with the VFS-IEM model results, time data and multiple hazards losses. Then the expected value of multiple hazards dynamic risk can be calculated by using the normal information diffusion estimator so as to improve the accuracy of risk evaluation results.