This paper presents a probabilistic method for assessing the liquefaction risk of cement-treated ground, which is an anti-liquefaction ground improved by cement-mixing. In this study, the liquefaction potential of cement-treated ground is analyzed statistically using Monte Carlo Simulation based on the nonlinear earthquake response analysis considering the spatial variability of soil properties. The seismic bearing capacity of partially liquefied ground is analyzed in order to estimate damage costs induced by partial liquefaction. Finally, the annual liquefaction risk is calculated by multiplying the liquefaction potential with the damage costs. The results indicated that the proposed new method enables to evaluate the probability of liquefaction, to estimate the damage costs using the hazard curve, fragility curve induced by liquefaction and liquefaction, risk curve.