The environmental risk management strategies used by farmers in response to rice yield variability in Ebonyi State, Nigeria was examined. A total of 108 rice farmers were interviewed using structured questionnaire. Data analysis shows that the mean age of the farmers was 45.9 years and majority (63%) had only primary school education. Rice production was at the peasant level with majority of the respondents cultivating between 0.6 and 1.0 hectare. The results show that farmers use mostly ex ante strategies, involving diversification and flexibility to manage environmental risk. The major constraints facing environmental risk management in the area include nonaccessibility of fund to purchase inputs at the appropriate time, (X = 3.69), inadequate information on weather situation (X = 3.36), inadequate extension services (X = 3.07), lack of irrigation facilities (X = 3.01), and non-availability of improved rice varieties (X = 3.00). The research suggests, among others, the provision of irrigation facilities and adequate extension services to farmers to enable them effectively manage the environmental risks affecting rice farming in the area.