Paleoflood studies are an effective means of providing specific information on the recurrence and magnitude of rare and large floods. Such information can be combined with systematic flood measurements to better assess the frequency of large floods. Paleoflood data also provide valuable information about the linkages among climate, land use, flood-hazard assessments, and channel morphology. This document summarizes methods and techniques for the preparation, gathering, evaluation, and interpretation of paleoflood information, including uncertainties, especially with respect to new statistical approaches available to efficiently use such data. We summarize best practices and strategies for assessing and mitigating uncertainties and provide guidelines on appropriate technical review of paleoflood analyses based on project goals and requirements.