The northern peoples of Russia live in conditions of absolute risks: extreme natural and climatic conditions, remoteness and inaccessibility of settlements, underdeveloped transport infrastructure, focal location of production, low stability of ecological systems. All this leads to unfavorable social consequences for small peoples, such as negative demographic processes, outflow of labor resources, limited access to high-quality medical, educational, cultural services, critical condition of housing and communal services, poor quality of life, loss of native language and national culture. The purpose of the article is to identify factors, features and consequences of the manifestation of social risks in the recent development of the indigenous peoples of the North, to identify attitudes and perception of the indigenous peoples of the North toward current risks for the development of these peoples. The article deals in detail with socio-demographic risks, including the peculiarities of the composition and structure of families of the indigenous peoples of the North, unemployment and employment in traditional activities (reindeer husbandry, fishing, gathering wild plants, hunting), financial situation and social problems. The risks in the sphere of traditional activities employment of small-numbered peoples, poverty risks, health risks and occurrence of diseases among the indigenous peoples of the North, legal risks are analyzed. The possibilities and prospects to reduce current risks in the development of indigenous peoples of the North are identified. The main conclusion of the study is that the problems of poverty and low standard of living, unemployment, unavailability of high-quality medical care and provision of medicines are acute among the northern peoples.