Danube River represents a critical axis of ecological and economic importance for the countries along its course. From this perspective, this paper aims to assess the most significant characteristics of the river and of its main tributaries, as well as its impact on the environmental sustainability and socio-economic development. Navigation and the economic contribution of the Danube River are the key issues of this work, emphasizing its importance as an international transport artery that facilitates trade and tourism, and develops the energy industry through hydropower plants. The study includes an analysis of the volume of goods transported from 2019 to 2023, as well as an analysis of the goods traffic in the busiest port on the Danube. Furthermore, climate change affects the hydrological regime of the Danube, as well as the ecosystems, economy, and energy security of the riparian countries. Main impacts include changes in the hydrological regime, increased frequency of droughts and floods, reduced water quality, deterioration of biodiversity, and disruption of the economic activities dependent on the river, such as navigation, agriculture, and hydropower production. Thus, hydrological risks and challenges are investigated, focusing on the extreme events of the last two decades and the awareness of their repercussions. In this context, the national and international institutions responsible for monitoring and managing the Danube are presented, and their role in promoting a sustainable river policy is explored. Methods and technologies are shown to be essential tools for monitoring and prediction studies. The Danube includes an extensive network of hydrometric stations that help to prevent and manage the most significant risks. Finally, a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis of the development of the hydrological studies was conducted, highlighting the potential of the river.