Floodwater resource utilization is an important way to alleviate the water resources shortage in China. The quantitative assessment of the floodwater utilization potential under the current engineering conditions is vital for implementation of floodwater resource utilization. However, the imperfect conceptual model of floodwater utilization potential, the limited availability of reservoir engineering data, and the lack of universal assessment method that directly considers the reservoirs regulation capacity pose a major challenge to assessment of floodwater utilization potential in China. This study improves the universality of the previous conceptual model of floodwater utilization potential by analyzing the differences and connections of floodwater resources potentials under different states of utilization. The floodwater utilization potential assessment method for river basin with multi-reservoir was also proposed based on our previous assessment method for single reservoir controlled basin. The assessment method was used to evaluate the floodwater utilization potential of the first- and second-level water resources regions in China based on the reanalyzed monthly runoff data (1902 ∼ 2014) and large and medium-sized reservoirs data (as of 2015). Results indicate that the annual average total floodwater utilization potential of China was calculated as 668.62 billion m3 under the current reservoir regulation capacity, accounting for 34.05% of the total floodwater water resources in China. The study demonstrated that the frequency curve of floodwater utilization potential can provide a better understanding of the states of floodwater utilization, and the assessment method. Strategies for long-term floodwater utilization and flood control planning in different regions of China were also provided to government in our study.