Based on the theories of perceived risk and perceived benefit as well as the Theory of Planned Behavior (TPB), this study explores the purchase intention of second-hand clothing among Chinese college students. The findings reveal that perceived benefit has a significant positive impact on the purchase intention of second-hand clothing among Chinese college students, while perceived risk (such as hygiene and safety) has a significant negative effect. Additionally, there exists a dynamic trade-off mechanism between perceived benefit and perceived risk. When the overall effect of perceived benefit exceeds that of perceived risk, the purchase intention of consumers will be significantly enhanced.