Floods are serious threats to the safety of people’s lives and property. This paper systematically introduces the basic theories and methods of flood risk assessment, takes Sichuan Province as the study area, and establishes a flood risk assessment index system with 14 indicators in four aspects—disaster-causing factors, disaster-forming environment, disaster-bearing body, and regional disaster resilience capacity—from the causes of disaster losses and flood formation mechanisms. Furthermore, this paper constructs a flood disaster risk assessment model for Sichuan Province based on a cloud model, entropy value, and GIS technology. The model is validated by taking the July–August 2023 flood disaster as an example, and the results show that the distribution of the disaster was consistent with the flood risk assessment results of this paper, which verifies that the selected indicators are appropriate and the model is accurate and valid.