Many populations live around active volcanoes with the uncertanity of a possible big eruption, as is the case of the populations near Popocatépetl in Mexico, which began a period of activity in 1994. The risk perception of these populations is complex to manage, due to factors such as territorial rootedness, social identity, cultural factors, as well as diverse positions among generations. A qualitative research was conducted in the municipality of Tetela del Volcán in Mexico, located in a high volcanic risk zone. The objective was to analyze the construction and intergenerational transmission of the perception of volcanic risk based on a theoretical mapping in the community. An ethnographic and participatory study was carried out from symbolic interactionism, using elements of grounded theory and deductive elements for the analysis of information. The participants were adolescents, adults and older adults from different social sectors. The results allowed the construction of a theoretical mapping of the processes of intergenerational construction of volcanic risk perception. It was found that different generations coexist, including adults born during the current period of volcanic activity. Also, risk perception is constructed from the integration of three dimensions: 1) culture and environment, 2) socio-cognition and emotions, and 3) responses to volcanic risk. From these findings it is possible to understand the continuities and social transitions of different generations coexisting with the Popocatépetl risk and uncertainty. This work can help decision makers to improve public policies, better risk management practices and better risk communication strategies and disaster risk reduction.