This study focuses on index-based flood risk assessment in Metro Manila, the capital region of the Philippines and most densely populated region in the country. Its objective is to properly address urban characteristics in flood risk assessment by introducing a specific urban-type set of physical, social, economic and ecological indicators. Analytical hierarchy process (AHP) was used to quantify the optimal selection weights for each of the selected 14 indicators. Five levels of flood risk will be presented in spatial maps using geographic information system (GIS) ranging from Very Low Risk to Very High Risk. Results of this study are expected to aid in understanding flood hazard and risk in Metro Manila. Moreover, the resulting flood risk information can be used as a decision tool in policy making, land-use planning, developing guidelines and countermeasures and flood disaster insurance.