This study examines the role of perceived risk and perceived benefit in improving the online intention among Generation-Y in Malaysia. The purpose of this study is to identify the valid measure of perceived risk and perceived benefit as the result with, associated with online intention among Gen-Y in Malaysia. In addition, this research proposes a new research framework on online intention by referring to numerous antecedent literatures of online intention. The conceptualization of consumer perceived risk and perceived benefits of this study provides empirical evidence in the study of online intention. Four types of risk, such as delivery risk, privacy risk, quality risk and time risk and four types of benefit such as shopping convenience, product selection, ease of shopping and shopping enjoyment were used to examine their impact toward online intention. In this study, a total of 200 questionnaires is distributed by the researcher which focus specifically on Gen-Y in Malaysia. Pearson Correlation and Multiple Regression analysis are employed in order to test the hypothesis and examine the relationship between the variables. The finding confirmed that all the dimensions of perceived risk and perceived benefit have played an important role in improving the intention of consumers to shop online. All the dimension of perceived risks has a significant negative relationship toward online intention and all the dimension of perceived benefits has a significant positive relationship toward online intention. In fact, this study provides useful assistance for online marketers to develop an effective marketing strategy in targeting Generation-Y consumers at the same time, they can get a broad overview about the risks and benefits of online intention where it leads to increase the involvement of Gen-Y in online shopping.