In this work, a novel approach is presented for the multivariate prediction of hydrological variables, employing a specialized type of recurrent neural network (RNN) known as the long-term memory network (LSTM).The central objective is to develop a flood prediction model using data collected from two hydrological stations situated along the Atrato River in the Choc´o Department, Colombia. The interconnected variables of water level, water flow, and water precipitation are analyzed in this model to enhance flood prediction accuracy. The LSTM model, integrated into an RNN structure, is designed to capture the complex dynamics and cross-correlations inherent in these hydrological variables. Validation involves a comparison with linear and nonlinear Nonlinear AutoRegressive with eXogenous input (NARX) models, considering factors such as estimation error and computational time. Additionally, the study conducts further analysis for water level prediction under two scenarios: utilizing only outflow and inflow measurements or predicting outflow alongside measuring inflow, with the objective of utilizing the proposed approach as a flood early warning system. † This article is a revised and expanded version of a paper entitled Multivariable NARX based Neural Networks Models for Short-term Water Level Forecasting, which was presented at International Conference on Time Series and Forecasting (ITISE-2023), Gran Canaria, Spain, 12th-14th July, 2023.