Based on paradigm evolution philosophy, the study provides the following findings through summarizing the existing risk-allocation literatures: Development of research on construction project risk allocation is co-related with deepening cognition of nature of the project. Along with cognition from one-off project to temporary contracts and social networks, risk allocation study is showing characteristics of paradigm evolution. Technical and organizational paradigm focused on risk identification, risk assessment and risk allocation processes to reveal the mechanism of risk allocation improvement, but the study lacks analysis under the premise of “economic man” and “social man”, which is contrary to a realistic scenario; while the rise of contract paradigm and relational paradigm expanded the explanation space of risk allocation, revealing action mechanism of social capital, trust and other relationship scenarios or factors on risk allocation.