The scientific evaluation of hidden disaster safety in mined-out areas is of great significance in guiding mine safety production. Based on the investigation of hidden disaster causing factors in a gold mine goaf in Jiaodong, the LEC method that takes into account risk compensation factors by introducing two risk assessment factors, namely personnel quality and safety management has been put forward. Based on the shortcomings of traditional geological evaluation methods and traditional LEC methods in the risk assessment of hidden disaster causing factors in gold mined-out area. A realistic risk assessment index system and scoring standards that take into account risk compensation factors have been established. A detailed explanation is given on the specific implementation and evaluation results of the improved LEC method through a mining example. By comparing the evaluation results of two methods for hidden disasters in goaf, by using ground investigation, geophysical exploration and drilling methods, the hazards of mined-out area have been verified. It is showed that the improved LEC method can more accurately and effectively evaluate the hidden disaster factors in gold mined-out areas.