A conceptual model of the thermal and water recharge of the Ketkinsky geothermal field as a product of magma and water injection from the Koryaksky volcano located 24 km apart was proposed. A digital hydrogeological model of the Ketkinsky geothermal field was developed in the volume of 7 km x 5 km x 2.5 km (from the topographic surface), it includes the space drilled by exploration and production wells. The model is based on an analysis of 3D distributions of temperature, pressure, salinity and CH4 content, geometrization of productive faults and well productivity characteristics. The geofiltration space was zoned in the model with separation of deep and shallow productive geothermal reservoirs, the area of deep thermal fluid upflow in the SSE part of the model base and the area of hidden thermal water discharge at the ground surface. A natural state inversion iTOUGH2-EWASG simulation was performed to estimate the deep thermal water upflow and permeability of productive geothermal reservoirs. The deep thermal water upflow is estimated to be about 10 kg/s, the permeability is estimated to be 190 mD (shallow productive reservoir) and 35 mD (deep productive reservoir). Inverse iTOUGH2-EWASG modeling of the hydrodynamic operating history of 1989–2020 was used to estimate the compressibility of the productive geothermal reservoirs: the compressibility of the deep reservoir is estimated at 7.16E-10 Pa???? 1, the shallow reservoir at 4.14E-07 Pa???? 1. Direct iTOUGH2-EWASG modeling with the above parameters reproduces the history of salinity and temperature changes in production wells. Forecast modeling of existing producing wells #23, K6, K01, K5 operation for 25 years with application of submersible pumps at immersion depth of 70 m confirms the possibility of their sustainable operation with total flow rate not less than 14.2 kg/s, adding four producing wells may yield to 54.3 kg/s with retaining of produced water quality (temperature, gas content of CH4, salinity). The use of submersible pumps and reinjection can significantly increase the reserves of Ketkinsky field to 165–175 kg/s of 70–80 ◦C and 60–70 g/s of CH4. Additional increase in reserves may be obtained by drilling the already known thermal anomaly in the SSE sector of the field and in the SWW foothills of Koryaksky volcano.