Floods are a major cause of loss of lives, destruction of infrastructure, and massive damage to a country’s economy. Floods, being natural disasters, cannot be prevented completely; therefore, precautionary measures must be taken by the government, concerned organizations such as the United Nations Office for Disaster Risk Reduction and Office for the coordination of Human Affairs, and the community to control its disastrous effects. To minimize hazards and to provide an emergency response at the time of natural calamity, various measures must be taken by the disaster management authorities before the flood incident. This involves the use of the latest cutting-edge technologies which predict the occurrence of disaster as early as possible such that proper response strategies can be adopted before the disaster. Floods are uncertain depending on several climatic and environmental factors, and therefore are difficult to predict. Hence, improvement in the adoption of the latest technology to move towards automated disaster prediction and forecasting is a must. This study reviews the adoption of remote sensing methods for predicting floods and thus focuses on the pre-disaster phase of the disaster management process for the past 20 years. A classification framework is presented which classifies the remote sensing technologies being used for flood prediction into three types, which are: multispectral, radar, and light detection and ranging (LIDAR). Further categorization is performed based on the method used for data analysis. The technologies are examined based on their relevance to flood prediction, flood risk assessment, and hazard analysis. Some gaps and limitations present in each of the reviewed technologies have been identified. A flood prediction and extent mapping model are then proposed to overcome the current gaps. The compiled results demonstrate the state of each technology’s practice and usage in flood prediction.