During past years a great attention is paid to the problem of hazardous waste management. “Prevention costs” of the activities concerned with hazardous waste are lower than “restoration costs” after damage is done. A proper management strategy for hazardous waste is one of key components for a sustainable development. The quantity of various flows for hazardous waste should be identified before a precise management strategy for hazardous waste can be developed. Until now there is not one unique way how countries within the European Union should report on the yearly amount of hazardous waste. Within the scope of the paper the methodology for quantification of hazardous waste flows was elaborated. The proposed methodology was applied for the case study of the Baltic States: Estonia, Latvia and Lithuania. Objectives for the paper included: analysis of statistical data on amount of hazardous waste in the Baltic States, identification of statistically significant independent variables, which describe the hazardous waste flows at 95 % confidence level, combination of statistical data analysis with evaluation of main indicators in order to propose the methodology for quantification of hazardous waste flows. The multiple regression analysis was carried out in order to identify the strength of correlation between amount of hazardous waste and defined independent variables. Based on the data analysis and literature reviews, the main indicators for the hazardous waste flows were identified. By combining findings of the multiple regression analysis of statistical data and stated indicators, the methodology for quantification of hazardous waste flows was elaborated. Amount of hazardous waste is slowly, but steadily growing in the Baltic States. Since there is not common methodology in the European Union for the quantification of hazardous waste flows, various data sources shown different amount of generated hazardous waste on the yearly basis in the Baltic States. The multiple regression equation, which describes statistical data at 95 % confidence level, was obtained. The equation includes 5statistically significant independent variables. The equation can be used for the forecasts of amount of hazardous waste in the Baltic States. The proposed methodology for the quantification of hazardous waste flows is based on unique solution, which combines study of main indicators with the use of multiple regression equation.