Assessment of seismic hazard in Panama is made using a seismotectonic regionalization model. The coefficients of Gumbel's Type-I distribution are calculated and return periods for several magnitudes are found. From these coefficients intensities, peak ground acceleration and earthquake hazard for a set of occurrence are noted. The Panama Fracture Zone (PFZ) and the Panama-South America Suture Zone (PSZ) provinces are the most active in producing earthquakes with a magnitude of about 7.0 in less than 16 yr. Magnitude 7.0 earthquakes in the Azuero province have a return period have a return period of about 160 yr,whereas in the Panama Deformed Belt (PDB) province the return period for magnitude 7.5 events is about 175 yr. (AU)