Flood forecasting in Korea has been based on the off-line parameter estimation method. But recent flood forecasting studies explore on-line recursive parameter estimation algorithms. In this study, a simultaneous adaptive estimation of system states and parameters for rainfall-runoff model is investigated for on-line real-time flood forecasting and parameter estimation. The proposed flood routing system is composed of Flood forecasting in Korea has been based on the off-line parameter estimation method. But recent flood forecasting studies explore on-line recursive parameter estimation algorithms. In this study, a simultaneous adaptive estimation of system states and parameters for rainfall-runoff model is investigated for on-line real-time flood forecasting and parameter estimation. The proposed flood routing system is composed of ø-index in the assessment of effective rainfall and the cascade of nonlinear reservoirs accounting for translation effect in flood routing. To combine the flood routing model with a parameter estimation model, system states and parameters are treated with the extended state-space formulation. Generalized least squares and maximum a posterior estimation algorithms are comparatively examined as estimation techniques for the state-space model. The sensitivity analysis is to investigate the identifiability of the parameters. The index of sensitivity used in this study is the covariance matrix of the estimated parameters.-index in the assessment of effective rainfall and the cascade of nonlinear reservoirs accounting for translation effect in flood routing. To combine the flood routing model with a parameter estimation model, system states and parameters are treated with the extended state-space formulation. Generalized least squares and maximum a posterior estimation algorithms are comparatively examined as estimation techniques for the state-space model. The sensitivity analysis is to investigate the identifiability of the parameters. The index of sensitivity used in this study is the covariance matrix of the estimated parameters.