In recent years, frequent disasters have inflicted severe damage on both resources and livelihoods, particularly impacting coastal cities like Puri with substantial losses in property and economic stability due to cyclones and floods. The affected regions face compounded challenges, including limited alternative livelihood options, insufficient knowledge, awareness gaps, and inadequate financial assistance. This study focuses on assessing the vulnerability of livelihoods in these disaster-prone coastal areas, which are susceptible to the dual threats of floods and cyclones. Employing a mixed-methods approach that integrates qualitative and quantitative data collection methodologies, this research aims to comprehensively understand the impact of natural disasters on rural livelihoods. Flood and cyclone risk assessments were conducted by integrating hazard and vulnerability mapping, followed by a multi-hazard risk assessment that amalgamates both maps. Two distinct clusters, representing high-risk and low-risk areas, were selected for a detailed Livelihood Vulnerability Assessment. The assessment utilized the Livelihood Vulnerability Index (LVI), incorporating parameters derived from the five capitals of livelihood. Indicators were meticulously selected based on insights gleaned from primary and secondary studies, highlighting critical issues affecting livelihood resilience. Through rigorous analysis, the study concludes with actionable proposals and recommendations. These include strategies for infrastructure development, enhancing livelihood resilience, implementing effective financial aid mechanisms, and advocating for policy initiatives aimed at bolstering economic stability and fortifying the resilience of communities in disaster-prone coastal areas like Puri. By considering these recommendations, the adverse impacts of natural disasters can be effectively mitigated, sustainable livelihoods can be fostered, and the long-term prosperity of vulnerable populations in cyclone and flood-prone areas can be ensured.