Generally, flooding causes waterlogging or submergence stress which is considered as one of the most important abiotic factors that severely hinders plant growth and development. Plants might not complete their life cycle even in short duration of flooding. As biologically intelligent organisms, plants always try to resist or survive under such adverse circumstances by adapting a wide array of mechanisms including hormonal homeostasis. Under this mechanism, plants try to adapt through diverse morphological, physiological and molecular changes, including the closing of stomata, elongating of petioles, hollow stems or internodes, or maintaining minimum physiological activity to store energy to combat post-flooding stress and to continue normal growth and development. Mainly, ethylene, gibberellins (GA) and abscisic acid (ABA) are directly and/or indirectly involved in hormonal homeostasis mechanisms. Responses of specific genes or transcription factors or reactive oxygen species (ROS) maintain the equilibrium between stomatal opening and closing, which is one of the fastest responses in plants when encountering flooding stress conditions. In this review paper, the sequential steps of some of the hormone-dependent survival mechanisms of plants under flooding stress conditions have been critically discussed.