Phosphorus (P) loss from soils poses a threat of eutrophication to downstream waterbodies. Alum (Al2(SO4)3·18H2O) and gypsum (CaSO4·2H2O) are effective in reducing P loss from soils; however, knowledge on their effectiveness under cold temperatures is limited. This study examined the reduction of P loss from soils with alum and gypsum amendment under simulated snowmelt flooding. Intact soil monoliths (15 cm depth) collected from eight agricultural fields in flood-prone areas of Manitoba, Canada, were surface amended with alum or gypsum, pre-incubated for 2 weeks, then flooded and incubated at 4 °C for 8 weeks. Porewater and floodwater samples collected weekly were analyzed for dissolved reactive P (DRP), dominant cations and anions. An enhanced P release with flooding time was observed in all soils whether amended or unamended; however, alum/gypsum amendment reduced DRP concentrations in porewater and floodwater in general, with alum showing a more consistent effect across soils. The reduction in floodwater DRP concentrations (maximum DRP concentration during flooding) with alum and gypsum ranged from 34–90% and 1–66%, respectively. Based on Visual MINTEQ thermodynamic model predictions, precipitation of P and formation of P-sorbing mineral species with alum and gypsum amendment reduced DRP concentrations at latter stages of flooding.