Upon this fiftieth anniversary of the storm that flooded the historical Italian centers of Venice and Florence, we review the event from the perspective of today’s scientific knowledge. In particular, we discuss the components of relative sea level rise in Venice that contribute to flooding, the monitoring networks and forecast capabilities that are currently in place, and the engineering actions adopted since the 1966 flood to safeguard the Venice lagoon and the city. Focusing on the meteo-oceanographic aspects, we also show how sheer luck at the time avoided a much worse disaster in Venice.