The Lancang-Mekong River Basin (LMRB) is one of the most important transboundary river basins in Asia. While climate change perturbs the streamflow and affects flood events, reservoir operation may mitigate or aggravate this impact. Therefore, quantitative assessment of the climate change impact and reservoir effect on the LMRB is a vital prerequisite for future hydropower development and environmental protection. This study aimed to estimate the variation of the streamflow and flood characteristics affected by climate change and reservoir operation within the LMRB. A reservoir module was incorporated into the Variable Infiltration Capacity (VIC) model to simulate the streamflow susceptible to the reservoirs. It was found that the reservoirs had a substantial influence on the streamflow during 2008–2016, when many reservoirs were constructed in the LMRB. The reservoirs across the Lancang River (the upper Mekong River located in China) reduced the annual average streamflow by 5% at Chiang Sean station (northern Thailand) in 2008–2016, whereas their influence became undetectable downstream of Vientiane station (northern Laos). The streamflow changes downstream of Mukdahan station at southern Laos (including the stations in Cambodia and southern Vietnam) were mainly attributed to the local reservoirs and climate change. Compared with the baseline period of 1985–2007, the upstream reservoir operation dramatically affected streamflow at the midstream stations with higher dry season streamflow (+15% to +37%), but lower wet season streamflow was less affected (−2% to −24%) in 2008–2016. Climate change increased the magnitude and frequency of the flood by up to 14% and 45%, respectively, whereas the reservoir operation reduced them by 16% and 36%, respectively. Our findings provide insights into the interaction between climate change and reservoir operation and their integrated effects on the streamflow, informing and supporting water management and hydropower development in the LMRB.
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