The article focuses on the identification and analysis of the risks that may arise in the process of teaching foreign languages in the agrarian higher education institutions. The theoretical methods, such as analysis, synthesis, comparison and generalization, have been applied in order to meet the goal of this paper. The author characterizes the risks of high priority, such as the qualitative risk (risk of failure to attract students who are identified as gifted and talented), the recruitment risk (risk of inability to recruit enough student contingent), the risk of failing to achieve the main goal of foreign language teaching in the agrarian universities, which is to ensure a sufficient level for practical use of a foreign language in the future professional activity of specialists in the agrarian sector, the risk of low student motivation in learning a foreign language, as well as the reputational risk. The above mentioned risks are connected to, or dependent upon, the reputational risk. It is important to understand the relationship between these types of risks so that they can be effectively prioritized. Having identified the key risks in the process of teaching foreign languages in the agrarian universities, consideration has then been given to how they should be managed to reduce their probability or impact, should they occur. It is essential to understand the interaction between the identified risk and mitigation. One risk may require several mitigations to be in place to ensure it is effectively managed. The examples of appropriate risk mitigation measures which may reduce the impact of each risk on the process of teaching foreign languages in the agrarian higher educational institutions are given along with the detailed risk description. The mitigation measures to be put in placeare followed by early warning mechanisms essential for timely prevention of occurring adverse events in teaching process. The further research should focus on the possibility to use the experience and best practice of the European universities under the issue being studied in Ukraine. The European model of risk-based approach to teaching foreign languages is a good source of reference for the Ukrainian agrarian higher school.