An Giang province of the Mekong Delta is the most vulnerable province to flood and climate variability impacts. Thousand of households are being at risks due to severe annual floods. This study applied the livelihood vulnerability index (LVI) to estimate flood vulnerability of Phu Huu and Ta Danh villages in An Giang province. Data on socio-demographics, livelihoods, health, social networks, physical, financial and natural resources, natural disasters and climate variability were collected from a survey of 120 households in each village. From these data LVI of each village was calculated. Results show that the overall LVI of Phu Huu village located in the early flooded zone is higher than that of Ta Danh village located in the late flooded zone. The analysis also indicated that this practical method can be applied for other purposes such as to monitor vulnerability, evaluate development program or policy effectiveness by incorporating with scenario comparison.