Abstract: Understanding the spatiotemporal characteristics and interrelationships among ecosystem services and ecological risks is crucial for crafting targeted ecosystem management strategies, ensuring regional ecological security and sustainable development. Wetlands provide various crucial ecosystem services to humanity, yet they exhibit high ecological sensitivity and are susceptible to disturbances from urbanization and human activities. This study focused on the Hangjiahu Plain, and utilized data from land use and socioeconomic statistics for 2000, 2010, and 2020. By employing the InVEST ecosystem service model, landscape ecological risk index, bivariate spatial autocorrelation analysis, and geographically weighted regression model, a quantitative assessment was conducted to explore the spatiotemporal trends and correlations between ecosystem service functions and landscape ecological risks. The results showed that: (1) From 2000 to 2020, the wetland ecosystem services in the study area decreased gradually from the high-value area in the southeast, and expanded outward sequentially. A transition from aggregative to dispersive with time was found. (2) The landscape ecological risk indices were 0.0286, 0.0277, and 0.0266, respectively. The overall ecological risk level in the study area shifted from a moderate risk level to a lower risk level. High and moderately high-risk areas were mainly distributed in patches in the western and northern parts of the study area. (3) Landscape ecological risks and ecosystem services exhibited spatial clustering characteristics. The relationship between landscape ecological risks and comprehensive ecosystem services showed a significant negative correlation, indicating a feedback effect. This negative impact and correlation gradually weakened over time. This study provided a theoretical basis for the development of policies aimed at reducing regional ecological risks and enhancing the capacity of ecosystem services to sustain the continuous health and stability of wetland ecosystems.