A real-time forecasting method coupled with the 1-D unsteady flow model with the recursive least-square method was developed. The 1-D unsteady flow model was modified by using the time-variant parameter and revising it dynamically through introducing a variable weighted forgetting factor, such that the output of the model could be adjusted for the real time forecasting of floods. The application of the new real time forecasting model in the reach from Yichang to Luoshan of the Yangtze River was demonstrated. Computational result shows that the forecasting accuracy of the new model is much higher than that of the original 1-D unsteady flow model. The method developed is effective for flood forecasting, and can be used for practical operation in the flood forecasting.