The invention provides an inventory risk optimization method based on stochastic demand and stochastic yield, belonging to the field of supply chain management and operational research. In this method, firstly, the income expression of an inventory manager under stochastic demand and stochastic yield is given; then the maximum expected income model, the maximum conditional value-at-risk income model and the maximum mean value-CVaR income model under stochastic demand and stochastic yield are established separately; and initial inventory level critical values and optimal ordering quantities under different conditions are obtained by solving the three models separately. The invention comprehensively considers the uncertainty of demand and the uncertainty of yield, combines with the risk aversion preference of the inventory manager, and takes the conditional value-at-risk as a measurement, so that the inventory decision-making is more in line with the actual situation of the inventory management, and a strong practical application value is obtained.