River flooding is one of the most widespread natural disasters. Projections indicate that climate change will increase flood hazard in many areas around the world. In this study, we investigate the individual and combined effects of sea level rise, flow increase and riparian vegetation encroachment on flood hazard in the lower Biobío River, Chile. Results show that each has the potential to individually increase flood hazard in certain areas, and that individual effects can compound. Encroachment of riparian vegetation onto previously sparsely vegetated areas of the floodplain, likely a result of the Chilean megadrought, causes higher flow resistance and increased flooding during large events. Somewhat counterintuitively, drought has therefore led to an increase in flood hazard in the study area. Drought risk for most land areas across the globe is expected to increase with climate change. Potential future vegetation encroachment should therefore be included as a key variable in riverine flood hazard studies.