The risk analysis of flood and drought disasters and the study of their influencing factors enhance our understanding of the temporal and spatial variation law of disasters and help identify the main factors affecting disasters. This paper uses the provincial administrative region of China as the research area. The statistical distribution of flood and drought disasters was optimized from 10 alternative distributions by the KS test, and the disaster risk was analyzed. Thirty-five indicators were selected from nature, agriculture and the social economy as alternative factors. The main factors affecting flood and drought disasters were selected by Pearson, Spearman and Kendall correlation coefficient test. The results demonstrated that the distribution of floods and drought is right skewed, and the beta distribution is the best statistical distribution for fitting disasters. In terms of time, the risk of flood and drought disasters in all regions showed a downward trend. Economic development and the enhancement of the ability to resist disasters were the main reasons for the change in disasters. Spatially, the areas with high drought risk were mainly distributed in Northeast and North China, and the areas with high flood risk were mainly distributed in the south, especially in Hubei, Hunan, Jiangxi and Anhui. The distribution of floods and drought disasters was consistent with the distribution characteristics of precipitation and water resources in China. Among the natural factors, precipitation was the main factor causing changes in floods and drought disasters. Among the agricultural and socioeconomic factors, the indicators reflecting the disaster resistance ability and regional economic development level were closely related to flood and drought disasters. The research results have reference significance for disaster classification, disaster formation mechanisms and flood and drought resistance.