Extreme flood events have the potential to cause catastrophic landscape change in short periods of time (10⁰ to 10³ h). However, their impacts are rarely considered in studies of long-term landscape evolution (>10³ y), because the mechanisms of erosion during such floods are poorly constrained. Here we use topographic analysis and cosmogenic ³He surface exposure dating of fluvially sculpted surfaces to determine the impact of extreme flood events within the Jökulsárgljúfur canyon (northeast Iceland) and to constrain the mechanisms of bedrock erosion during these events. Surface exposure ages allow identification of three periods of intense canyon cutting about 9 ka ago, 5 ka ago, and 2 ka ago during which multiple large knickpoints retreated large distances (>2 km). During these events, a threshold flow depth was exceeded, leading to the toppling and transportation of basalt lava columns. Despite continuing and comparatively large-scale (500 m³/s) discharge of sediment-rich glacial meltwater, there is no evidence for a transition to an abrasion-dominated erosion regime since the last erosive event because the vertical knickpoints have not diffused over time. We provide a model for the evolution of the Jökulsárgljúfur canyon through the reconstruction of the river profile and canyon morphology at different stages over the last 9 ka and highlight the dominant role played by extreme flood events in the shaping of this landscape during the Holocene.