In the Yuanba area, many lost circulation accidents occur due to the complex geological structure, broken strata, and developed fractures, which seriously affect construction safety and drilling costs. Therefore, the Yuanba district is the focus of this paper. Firstly, a three-dimensional geomechanical model is established through multi-source information fusion to identify the main geological risk factors of lost circulation, according to the data on drilling and well logging in the operation area. Then a risk warning model and evaluation methods for loss circulation, based on geological engineering data fusion, are established, through which the characteristic parameters of various loss of circulation risks can be calculated in real time, parameters along the well trajectory can be extracted and compared, and thus, the risk of lost circulation is warned and analyzed in real time. The early warning of lost circulation risk can be achieved during drilling operations, which can improve the drilling efficiency and shorten the drilling cycle as a result.