This paper presents a new evaluation scheme in which the Regret Theory has been coupled with Fuzzy Analytic Hierarchy Process in a bid to evaluate the safety of the Arctic Route. Particularly speaking, what we want to achieve is to avoid risks and reduce losses through the application of the Regret Theory in safety. Firstly, based on the various factors that affect the safety of the Arctic Route, we have taken Fuzzy Analytic Hierarchy Process to divide the safety structure diagram of Arctic Route into the respective factors. Among them, there can be illustrated as four main ones, that is, man, machine, management, and the natural environment. At the same time, the Regret Theory has been pun into operation to deal with the various data about the safety attributes to get the data of the regret utility, so as to work out the weight of each attribute via the Fuzzy Analytic Hierarchy Process. And, finally, we have taken the weighted geometric mean method to treat the data of the regret utility and the weight of each attribute so as to get the result of the safety evaluation of the Arctic Route. The results of the aforementioned investigation and tests indicate that the natural environment should be of vital importance in determining the safety of the Arctic Route. Nevertheless, further sensitivity analysis has made us realize that the changes of the Arctic ice layer may hurt and affect the safety of the Arctic Route, for the natural environment would be exercising a diminishing influence on the safety of the Arctic Route navigation with other influential factors being gradually aggravated. For example, with the tendency of warming up of the undergoing tendency of climate warming-up, it would be possible for the Arctic Route to become a more safety route in the future, though there may still remain potential safety hazards. Therefore, in order to ensure the safety of vessels sailing through the region, it is necessary to prepare for corresponding safeguard measures, such as, enhancing the safety awareness of the relevant people working and living in the region while offering privilege to the monitoring activities in protecting the natural environment over there, so as to heighten the equipment quality and infrastructure construction to speed up a comprehensive development and construction of the Arctic Route management system.