The article is dedicated to presentation and discussion of the results of hydrodynamic modeling of the floods on the Dniester River that took place in last decades as well as evaluation of flood hazard/risk area in case of flood wave of 10, 1, 0.5, 0.1% probabilities. The flood wave simulation was performed for the sector situated in the limits of the Republic of Moldova: Hrushca vil. - Talmaza vil. (where the Dniester branches into the Dniester and the Turunchiuc distributary). In total, 549 cross-sections were constructed which previously have been extracted from the digital elevation model of 1m resolution. Model calibration and validation was performed on the basis of real floods which occurred in 1969, 1980, 2008, 2020 by analyzing the records from Hrushca st. (model input data), Dubasari st. (outflow from the Dubasari res.) as well as Bender st. Main software utilized for flood modeling is HEC-RAS 5.0.3. During research main attention was paid to estimation of flood protection structures (reservoirs and dikes) impact on flood dynamics and hazard areas as well as damages caused by the floods as well as number of potentially affected people due to this hydrological disaster. Analysis of spatial distribution of flood-prone areas has shown that the study area can be subdivided into two characteristic sections the limit of which is the Dubasari reservoir. The lower part of the Dniester river flows through plain area, the floodplain being large and flat, creating favorable conditions for flood wave distribution on extended surfaces. In the case of low probability floods propagation, the Dniester river floodplain would be completely flooded. The effect of pluvial flood control on the Dniester river with the help of the Dubasari reservoir is significant in the case of propagation of high probability flood waves decreasing along with the exceeding probability and being virtually null in the case of rare floods. For the low probability flood wave scenarios (10, 1, 0.5, 0.1%), hazard areas would constitute 82-380 km2 in the case of presence of the defense structures and 293-442 km2 in case of their absence. The area potentially flooded during 5-10% floods would be 3.5 times smaller in case if it is protected by hydrotechnical defense constructions, and it would decrease by approx. 2 times during the 0.5-1% flood propagation in the same conditions. It was estimated that the number of people affected by the floods could rise up to 10000-45000 ths. depending on the exceeding probability and protection degree. Potential loss caused by floods was considered as a value calculated using the flood depth and the damage caused to different land cover types. Thus, it was calculated that the potential loss would amount to 83-330 mil. Euro in the case of levees presence and to 102-339 mil. Euro in case of their absence.