The paper responds to research problems related to the implementation of large-scale investment projects in waterways in Europe. As part of design and construction works, it is necessary to indicate river ports that play a major role within the European transport network as intermodal nodes. This entails a number of challenges, the cardinal one being the optimal selection of port locations, taking into account the new transport, economic, and geopolitical situation that will be brought about by modernized waterways. The aim of the paper was to present an original methodology for determining port locations for modernized waterways based on non-cost criteria, as an extended multicriteria decision-making method (MCDM) and employing GIS (Geographic Information System)-based tools for spatial analysis. The methodology was designed to be applicable to the varying conditions of a river’s hydroengineering structures (free-flowing river, canalized river, and canals) and adjustable to the requirements posed by intermodal supply chains. The method was applied to study the Odra River Waterway, which allowed the formulation of recommendations regarding the application of the method in the case of different river sections at every stage of the research process.