The purpose of this study was to investigate the risk and protective factors that may cause or postpone risk behaviors in high risk students. The participants were 6 male and 4 female junior high school students in central Taiwan who were regarded as high risk students by their counselors or mentors. All data were analyzed with the open coding method. The risk and protective factors were presented and discussed from the aspects of individual, family, school, and society. The following factors were found: (1) The individual aspect: The trait of internal-external control affects the students’interactions with different environments; whether or not one’s daily emotional experiences are understood and accepted has an impact on the occurrences of risk behaviors; the degree of mature thinking and misconceptions influences the motives behind daily behaviors. (2) The family aspect: Attitudes toward parenting affect parents-children relationships; family background and the satisfaction of belonging need affect the occurrences of risk behaviors; the relationship with one’ s own family affects the willingness to participate in the risk behaviors. (3) The school aspect: Attitudes toward teachers’disciplinary methods affect students’motivation in learning; the way of interactions with peers affects the probabilities of risk behaviors; academic achievement and teacher-student relationships affect classroom adjustment. (4) The society aspect: The mass media provides both useful knowledge and negative models; some friends outside schools constitude positive models, but some facilitate risk behaviors; regulations and law are functional in warning youngsters against delinquency. Finally, based on the results of this study, suggestions as to the counseling of high risk students are given.