Daylily (Hemerocallis fulva) is an important ornamental and medicinal plant, possessing high economic and cultural significance. Flooding stress has emerged as a substantial limiting factor for the daylily plant cultivation. However, the molecular mechanisms underlying daylily responses to waterlogging are largely unclear. In this study, 23 daylily cultivars and species were collected, and their tolerance to submergence was assessed using an evaluation system. A high-depth transcriptome analysis was performed to investigate the mechanisms underlying daylily root responses to submergence in the highly tolerant 'Here Lies Butch' and the highly sensitive 'Bonibrae Sharky'. During a 24-h submergence period, analysis of differentially expressed genes revealed distinct waterlogging tolerance-associated pathways in daylily roots, including ethylene biosynthesis, reactive oxygen species production and scavenging, alcoholic fermentation, abscisic acid biosynthesis, gibberellin biosynthesis, and programmed cell death. These pathways are responsible for energy production, adventitious root growth, aerenchyma formation, and internode elongation, facilitating the plant adaptation to hypoxia under waterlogging. A number of differentially expressed transcription factors (TFs), belonging to ERF, ARF, bHLH, MADS, MYB, NAC, WRKY, and ZFP families, were identified in both highly tolerant and sensitive cultivars. The potential correlations between TFs and genes in waterlogging tolerance-related pathways were thus predicted through principal component and interaction network analysis. The data obtained here contribute to the understanding of molecular events underlying waterlogging responses in daylily.