It is shown that the unfavorable intra-annual distribution of river runoff, and low-water and high-water periods complicate the use of water resources of the Novosibirsk reservoir and are accompanied by a number of negative consequences. The possibilities of creating reservoirs in the basin and their influence on the runoff of the Upper Ob are analyzed. The Novosibirsk reservoir is considered as an example of water resources management in the extreme hydraulicity conditions of the river. It is noted that in spite of the shallow seasonal flow regulation, the reservoir allows the negative consequences of floods and low-water situations to be reduced. At present, the Upper Ob is characterized by an increase in the recurrence frequency of low-water years and low-water cycles consisting of two years or more. For the period 1959–2015, 21 years were high-water, 11 years — moderate water and 24 years — low-water. We examine changes in hydraulicity of the Upper Ob for the period 2012–2015, including extremely low-water, high-water and moderate-water years. An analysis of the use of the water resources of the Novosibirsk reservoir in the low-water conditions shows that forecasts of the spring inflow into the reservoir do not permit any reasonably high-quality management decision-making corresponding to the extreme conditions of formation of the annual low inflow. In some periods, warm spring weather causes intense snowmelt in Altai, which leads to a rise of the water levels in local rivers, and the inflow into the reservoir increases up to seven times. Generally, almost a third of the high-water inflow is accumulated in the Novosibirsk reservoir, which makes it possible to influence the processes of flooding and underflooding in the downstream. As a result of the studies carried out, a need for a deeper regulation of the Upper river flow has been revealed.Keywords: reservoirs, flow regulation, low-water and high-water periods, spring water filling, shallow seasonal regulation, high water, rain floods.