Aimed at the problems that the cognitive limitation and decision preference of decision makers leave out of consideration, and the individual regret and group value are under no consideration synthetically in the current air combat threat assessment, a threat assessment model is constructed based on the three reference points prospect theory and the visekriterijumska optimizacija I kompromisno resenje (VIKOR). First, according to the independence between the schemes to be evaluated, a planning model of maximizing the foreground value of the evaluation scheme set is established to calculate the index weight, avoiding the uncertainty brought about by the subjective weighting method. In order to overcome the problem of information loss and the decrease of the resolution of decisionmaking results caused by the simple reference point of the index average value, the reference approach technique for order performance by similarity to ideal solution (TOPSIS) is introduced, and the positive and negative ideal points are used as the parameters, the fuzzy analysis method is used to determine the preference weight of decision makers for difference reference points. Finally, in order to balance the group value and the individual regret, the subjective preference of the decisionmaker is on reflection, and the prospect value is combined by using the VIKOR method to rank the threat of the target. The method is feasible and valid.