This study aims to analyze the water resources governance system in Brazil, identifying advances, limitations, and opportunities to strengthen integrated and participatory management, in addition to assessing how IT governance can contribute to this improvement. Using content analysis with a qualitative approach, seven documents published between 2015 and 2024 were examined, focusing on studies carried out by the National Water and Sanitation Agency (ANA) or in partnership with external agencies. The analysis was divided into six categories: Governance and Efficiency; Integration; Institutional Partnerships; Interinstitutional Coordination; Financial Resources; and Maturity in IT Governance. The results reveal significant advances and persistent challenges. The main limitations include administrative fragmentation, isolation between government agencies, dependence on temporary financing, low social participation, difficulties in coordination between the Union and the states, and the scarcity of financial resources, which highlights the need for greater intersectoral coordination and institutional strengthening. Advances include the creation of the National Registry of Water Resource Users (CNARH), the National Water Resource Information System (SNIRH), and the Water Security Index (ISH), as well as initiatives such as the National Pact for Water Management (Progestão) and PROCOMITÊ, which promote greater integration between basin committees. The study also highlights opportunities such as regulatory modernization through nature-based solutions and digital technologies, integration between water, energy, and land use policies, and encouraging private participation in water infrastructure projects. The creation of exclusive funds for water preservation and the improvement of inter-institutional coordination can contribute to more efficient and sustainable management of water resources in Brazil.