Recently, the use of unmanned aerial vehicles (UAVs) in bathymetric applications has become very popular due to the rapid and periodic acquisition of high spatial resolution data that provide detailed modeling of shallow water body depths and obtaining geospatial information. In UAV-based bathymetry, the sensor characteristics, imaging geometries, and the quality of radiometric and geometric calibrations of the imagery are the basic factors to achieve most reliable results. Digital bathymetric models (DBMs) that enable three-dimensional bottom topography definition of water bodies can be generated using many different techniques. In this paper, the effect of different UAV imaging bands and DBM generation techniques on the quality of bathymetric 3D modeling was deeply analyzed by visual and statistical model-based comparison approaches utilizing reference data acquired by a single-beam echosounder. In total, four different DBMs were generated and evaluated, two from dense point clouds derived from red–green–blue (RGB) single-band and multispectral (MS) five-band aerial photos, and the other two from Stumpf and Lyzenga empirical satellite-based bathymetry (SDB) adapted to UAV data. The applications were performed in the Tavşan Island located in Istanbul, Turkey. The results of statistical model-based analyses demonstrated that the accuracies of the DBMs are arranged as RGB, MS, Lyzenga, and Stumpf from higher to lower and the standard deviation of height differences are between ±0.26 m and ±0.54 m. Visual results indicate that five-band MS DBM performs best in identifying the deepest areas.