Climate change and rapid urbanization have aggravated the rainstorm flood in Jinan City during the past decades. Jinan City is higher in the south and lower in the north with a steep slope inclined from the south to the north. This results in high-velocity overland flow and deep waterlogging, which poses a tremendous threat to pedestrians and vehicles. Therefore, it is vital to investigate the rainstorm flood and further perform flood risk zoning. This study is carried out in the “Sponge City Construction” pilot area of Jinan City, where the InfoWorks ICM 2D hydrodynamic model is utilized for simulating historical and designed rainfall events. The model is validated with observations, and the causes for errors are analyzed. The simulated water depth and flow velocity are recorded for flood risk zoning. The result shows that the InfoWorks ICM 2D model performed well. The flood risk zoning result shows that rainfalls with larger recurrence intervals generate larger areas of moderate to extreme risk. Meanwhile, the zoning results for the two historical rainfalls show that flood with a higher maximum hourly rainfall intensity is more serious. This study will provide scientific support for the flood control and disaster reduction in Jinan City.