The purpose of this research is to examine the influence of the relationship financing structure to insolvency risk of Islamic banks that are listed at Bank Indonesia in 2008 until 2012. Type of data used is secondary data which got from annual report each bank’s website. By using purposive sampling method and unbalanced panel of data, there are 9 Islamic banks with total 31 observations that qualify as research samples. The data analyzes conducted by using multiple linear regressions analyzes. The result of this research shows that real estate financing, specialization index, and short-term financing portfolio stability simultaneously influence to insolvency risk. Partially, that only short-term financing portfolio stability have positive influence to Islamic Banks insolvency risk, while real estate financing and specialization index have negative influence to Islamic Banks insolvency risk. Keywords: Insolvency risk, financing structure, real estate financing, index specialization, short-term financing portfolio stability.