Flood hazard assessment is a fundamental step in flood risk mapping. Quantitative assessment requires hydrodynamic modelling of the flooding process in order to calculate the spatial distribution of suitable flood hazard indicators representative of flooding intensity and frequency, hence its potential to result in harm. Flood hazard indicators are usually defined by combining relevant flooding parameters, mainly flood depth and flow velocity, but also flooding arrival time, flooding duration, sediment or contamination load, and so forth. A flood hazard classification is commonly introduced to assign a hazard level to areas potentially subject to flooding. This article presents a systematic review of quantitative methods proposed in the scientific literature or prescribed by government authorities to assess the hazard associated with natural or anthropic flooding. Flood hazard classification methods are listed and compared by specifying their underlying approach (heuristic, conceptual, empirical), the exposed element which they were designed for (people, buildings, vehicles, etc.), and their fields of application (river overflow, dam‐break, levee breach, debris flow). Perspectives and future challenges in quantitative flood hazard analysis are also discussed. This review aims to help modellers and practitioners to select the most suitable flood hazard assessment method for the case study of interest.