Instantaneous peak flows (IPFs) are often required to derive design values for sizing various hydraulic structures, such as culverts, bridges, and small dams/levees, in addition to informing several water resources management-related activities. Compared to mean daily flows (MDFs), which represent averaged flows over a period of 24 h, information on IPFs is often missing or unavailable in instrumental records. In this study, conventional methods for estimating IPFs from MDFs are evaluated and new methods based on the nonlinear regression framework and machine learning architectures are proposed and evaluated using streamflow records from all Canadian hydrometric stations with natural and regulated flow regimes. Based on a robust model selection criterion, it was found that multiple methods are suitable for estimating IPFs from MDFs, which precludes the idea of a single universal method. The performance of machine learning-based methods was also found reasonable compared to conventional and regression-based methods. To build on the strengths of individual methods, the fusion modeling concept from the machine learning area was invoked to synthesize outputs of multiple methods. The study findings are expected to be useful to the climate change adaptation community, which currently heavily relies on MDFs simulated by hydrologic models.