The transformative potential of deep learning models is felt in many research fields, including hydrology and water resources. This study investigates the effectiveness of the Temporal Fusion Transformer (TFT), a deep neural network architecture for predicting daily streamflow in Portugal, and benchmarks it against the popular Hydrologiska Byråns Vattenbalansavdelning (HBV) hydrological model. Additionally, it evaluates the performance of TFTs through selected forecasting examples. Information is provided about key input variables, including precipitation, temperature, and geomorphological characteristics. The study involved extensive hyperparameter tuning, with over 600 simulations conducted to fine–tune performances and ensure reliable predictions across diverse hydrological conditions. The results showed that TFTs outperformed the HBV model, successfully predicting streamflow in several catchments of distinct characteristics throughout the country. TFTs not only provide trustworthy predictions with associated probabilities of occurrence but also offer considerable advantages over classical forecasting frameworks, i.e., the ability to model complex temporal dependencies and interactions across different inputs or weight features based on their relevance to the target variable. Multiple practical applications can rely on streamflow predictions made with TFT models, such as flood risk management, water resources allocation, and support climate change adaptation measures.