Rural riverine households in Bangladesh are confronted with many climate-driven hazards, including riverbank erosion, which results in loss of productive land and other natural resources of the riverine households, and thus threatens their livelihoods and food security. This study assesses the main drivers of vulnerability and livelihood cycle of vulnerable riparian households in Bangladesh. The study utilises the IPCC framework of vulnerability and develops a weighted approach by employing the livelihood vulnerability index and the climate vulnerability index. The results reveal that the livelihood vulnerability index and the climate vulnerability index differ across locations, however, a high index value for both measures indicates the households' high livelihood vulnerability to climate change and hazards. The main drivers that influence the vulnerability dimensions are livelihood strategies and access to food, water and health facilities. These hazard-prone households are also vulnerable due to their existing low livelihood status that leads to a vicious cycle of poverty. The findings of this study are crucial for policymakers to formulate and implement effective strategies and programs to minimise vulnerability and to enhance the local adaptation processes in order to improve such households' livelihood across Bangladesh.