Extant research on social distance and decision-making under risk has mostly focused on how people reach different decisions for themselves than others under the same circumstances. This research adds to this literature by studying how the social distance between the decision-maker and people in danger influences risk preference in life-saving domain. We found that decision-makers tend to be more risk-seeking when the lives of close others are at stake than distant others regardless of whether the situation is framed in terms of loss or gain. However, the effect of social distance on risk preference was eliminated when it was the responsibility of the decision-makers rather than the chance to pick the potential victims to save. By analyzing the shape of value function, we provided preliminary evidence for the hypothesis that decision-makers engage in feeling-based evaluation when close others’ lives are at stake but calculation-based evaluation when distant others’ lives are at stake, which could account for the effect of social distance on risk preference documented in this research. A final experiment yielded direct evidence that evaluation mode mediates the relationship between social distance and risk preference.