Flood becomes regular feature in riverrine Bangladesh. Every year, around 21 percent of land is flooded during monsoon season, however, in severe situation this figure shot up to more than 60 percent of total land. This paper is an attempt to analyze hydrological characteristics of two catastrophic events (1988 and 1998 flood) in the light of flood history in Bangladesh. The analysis demonstrates that the 1998 flood was more severe than the 1988 one. Moreover, the 1998 flood was also prolonged than the 1988 flood due to heavy rainfall inside and outside of the country. Finally, flood management issues in Bangladesh have been analyzed and found that structural solution to mitigate flood is not the only solution. Based on the analysis some possible mitigation options are put foward.