This paper applies a structural equation modeling approach to study the formation of consumers’ perceived health risk of genetically modified (GM) foods based on a cross-sectional dataset of 508 consumers in Xi’an, China. The results indicate a high percentage of respondents who believe that GM foods might threaten human health. The estimated structural equation model shows that males, older people, respondents with higher income, those with better educational attainment, and those with family members who need special care have higher perceived risks of GM foods. Effective risk communication is necessary to provide consumers with scientific information about GM foods in order to facilitate their understanding of the actual risks of GM foods.