The study performs a temporal probabilistic analysis of earthquakes in a seismically active region like Bangladesh. Data from the USGS earthquake catalog, spanning from May 12, 1906, to August 24, 2022, within a 500km radius of Dhaka City, was analyzed to assess earthquake hazard and probability. It revealed that the country is located in an area with a high likelihood of earthquakes, and any moderate to major tremor might trigger an enormous human catastrophe. While 75% of the earthquakes were classified as the "light" category (4-4.9 Richter Scale), 64% occurred at shallow depths, and only 5% occurred within 200 kilometers of Dhaka. Since the 1990s, the earthquake frequency has increased significantly with an incidence rate of 1.556. The findings categorized the research area as having a relatively moderate risk of earthquake hazard, with depth, frequency, magnitude, and distance scores falling into various risk categories. Probability distributions of earthquake magnitudes were estimated using the graphical analysis and goodness-of-fit criteria. Cumulative probability distributions were also determined to predict earthquake occurrences of specific magnitudes in the coming years based on recurrence time. The study indicated a strong probability of major earthquakes in the future, which poses a severe threat to the country. Assessing the susceptibility of an area to earthquakes based on factors like geology, topography, population density, building quality, and coping mechanisms is crucial, and this earthquake catalog can support disaster preparedness, specific precautions in planning, and the development of a resilient nation.