To effectively predict the severity of mine water hazards and enhance coal mine water disaster prevention, a GRA-GT combination weighting evaluation model was proposed based on Grey Relational Analysis (GRA) and Game Theory (GT). This model employs GRA to quantify the relational degree between the risk of coal mine water inrush and key controlling factors, including aquifer water pressure, specific water yield, core recovery ratio, equivalent thickness of the aquiclude, thickness of brittle rock beneath the mining-induced fractured zone, fault fractal dimension, fold deformation coefficient, and density of collapse column distribution. Game Theory was then applied to optimize the subjective weights derived from the Analytic Hierarchy Process (AHP) and the objective weights obtained from the CRITIC method, constructing an optimal combination weight set. The model was applied to evaluate Roadway A, Roadway B, Roadway C, and Roadway D in Pingshuo Mine No.3. The evaluation results indicated that Roadway D had the highest water inrush risk, followed by Roadway A, while Roadway B exhibited the lowest risk. The model effectively balances subjective and objective weights, provides quantifiable and intuitive evaluation results, and demonstrates strong engineering applicability. It offers a dynamic evaluation framework integrating theoretical rigor with practical applicability for the graded management of coal mine water inrush risks.