A channelized debris flow/flood generally originates from initial gully erosion by superficial runoff that evolves rapidly into massive erosion of the channel bed. Knowledge of the formation conditions of such events is crucial for accurate forecasting, and determination of rainfall and runoff thresholds for such hazards is a primary concern following a strong earthquake. This work proposed a framework for debris flow/flood formation at the watershed scale in two watersheds (area: 2.4 and 32.4 km²) in the Wenchuan Earthquake area (China). The critical runoff and rainfall conditions required for debris flow/flood formation were simulated and their annual variations investigated. Ultimately, the runoff conditions required for debris flow/flood formation in the two studied watersheds were calculated on an annual basis and found to increase in time. Similarly, following consideration of three different rainfall types, critical rainfall conditions were proposed that also showed an increasing tendency. The increase of rainfall and runoff conditions for debris flow/flood formation is attributable to both the recovery of vegetation and the reduction of source materials. In comparison with actual monitored flow behaviors and previously proposed rainfall thresholds, the results showed strong consistency and high forecasting efficiency.