Thermal power plant is an electricity generation industry involving a number of operating systems using fossil fuel. Among the operating systems, Lignite Handling System contributes several unsafe acts and conditions that could interrupt the normal working of the plant. A risk assessment is an essential step in protecting the plant from such scenario. The intention of Hazard Identification and Risk Assessment is to identify the most potential hazards and to assess the identified hazards by calculating their frequencies and consequences. After which risk assessment matrix is developed to attain the risk level by means of risk severity. Subsequently, risk level is assigned to the each identified hazard for determining the corrective actions to control or eliminate the hazard. In this paper, a HIRA is prepared for the Lignite Handling System of Thermal power plant and suggested the possible control measures and preventive actions to minimize or eliminate the risk in future occurrence.