Lean construction has been viewed as an effective management approach for reducing the occurrence of no-value or destructive activities, such as wasting resources and safety-related accidents. However, few studies have systematically addressed how and to what extent lean construction practices influence construction safety. To bridge this gap, a conceptual model is developed and validated using a system dynamics approach. The construction system in this model comprises four sub-systems (i.e., environment system, equipment system, management system, and employee system). Data were collected from 448 projects in China. Simulations were conducted to determine the correlations between five types of lean tools and the four construction sub-systems. The results show that: (a) 5S management has significant positive impacts on the control of key locations and facilities at construction sites, and contributes to the mitigation of environmental impacts; (b) visual management can significantly improve safety compliance and safety management; (c) just-in-time management has significantly positive influences on the safety facilities layout and formulation of the safety plan; and (d) the Last Planner System and conference management are effective in improving safety training and the implementation of the safety plan. These findings provide new insights into the use of lean construction for improving construction safety through the implementation of a targeted lean approach.