Flood is a natural phenomenon that will remain a major hazard as long as people live and workrnin flood prone areas. It occurs when the volume of water in a river or stream exceeds therncapacity of the channel. It also takes place along lake when higher than normal water levelsrninundate low-lying areas. The present study was carried out to identify and delineate floodrnhazard and risk zones in the study area. In order to do this, it was found important to understandrnthe catchment characteristics, and hence flood hazard assessment was done to the whole LakernBoyo catchment area. An integrated Remote Sensing and GIS approach was found to be veryrnhelpful to delineate flood hazard and risk zones in the study area. Factors that were found to bernsignificant in triggering flood hazard in the study area in decreasing order of importance were:rndrainage, elevation, geomorphology, land use land cover, rainfall and slop. These factors werernweighted in hierarchical order using the MCE approach to produce flood hazard map of therncatchment. From the flood hazard map, the areas of flood hazard levels were calculated. Sincernall the areas of the very high and more than 90% of high flood hazard levels are found inrnShashogo Woreda, flood risk analysis was done for the Woreda using the two elements at risk,rnviz., land use and population density of the Woreda. Major findings of the study revealed that,rnPAs in the down stream part of the catchment: Doesha, Mololicho, Shemo, Biramora, Musagesa,rnUrbecha and Kemetcho Borara PAs were subjected to very high flood hazard and risk and therndifferent land uses in these areas are within high to very high flood hazard and flood risk level.