River streamflow forecasting is important for managing and controlling the water resource system. This study developed new hybrid models, namely wavelet packet first-order response surface (WPFORS) and wavelet packet quadratic response surface (WPQRS), using the wavelet packet decomposition technique with the first-order response surface (FORS) and quadratic response surface (QRS) models. This study is also based on forecasting the performance of the three traditional models: multiple linear regression (MLR), FORS, and QRS. The wavelet packet decomposition technique is used to remove noise from hydrological data. The daily streamflow data from the 2005 to 2013 monsoon season (1st July to 31st September) of the Chenab River basin in Pakistan were used. To check the forecasting performance of the observed models, the criteria used are root mean square error (RMSE), mean square error (MSE), Nash Sutcliffe coefficient of efficiency (NSE), and mean absolute error (MAE). The results found that WPFORS and WPQRS presented better forecasting accuracy than traditional models like MLR, QRS, and FORS. In addition, it is also observed that the overall performance of WPQRS is better than the WPFORS model for 1-d ahead forecasting of streamflow data.