Tritium is a radioactive isotope of hydrogen, produced in heavy water, during CANDU reactor operations by neutron absorption. The tritium removal facility at Darlington (DTRF) is used to extract tritium from the heavy water on a continuous basis and concentrates it in preparation for immobilization and storage. There are several internal and external hazards associated with the operation of DTRF, such as fires, onsite transportation accidents, exposure to radioactive materials, explosion due to Hydrogen (H2) and the release of radioactive substances from the Tritium Immobilization System. This paper conducts a risk analysis for the DTRF Cryogenic Refrigeration System, associated with both Low and High Tritium Distillation columns. This study includes hazard identification, consequence analysis and risk estimation. Fault Tree and Event Tree Analysis conducted, system reliability, availability and human reliability was considered. Consequently, methods for risk reduction and integration with improvement to CRS design is discussed.