The weather company said it came to this conclusion after an extensive review of all available data and consultation with their expert team of long-range forecasters.
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"That sets California up to be in a very good position here in terms of water supply over the next couple of years," AccuWeather chief meteorologist Jonathan Porter said.
Porter said El Niño has directed storms at California that has provided a lot of rain and refilled reservoirs.
At the moment, six of the state's most important reservoirs sit at or are above the historical average water levels.
"That gives us confidence that water is not going to be a scarce issue here in the short term in California," Porter said.
All this comes on the heels of what has turned out to be yet another wet winter, swamping California with heavy rainfall and flooding. The frequent deluges have fended off a return to the drought that has plagued the state over the past decade.
Some parts of California are so wet these days that even Death Valley National Park has a lake big enough for kayakers.
A powerful blizzard that closed highways and ski resorts had moved through the Sierra Nevada by early Monday, but forecasters warned that more snow was on the way for the Northern California mountains.
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Last week's monster storm in the Sierra Mountains dumped up to 12 feet of snow, securing a healthy snowpack. Snowpack in the Sierra Mountains is important because during the summer, melting snow flows into the state's water table.
However, Porter said they'll have to keep an eye on warmer temperatures that could impact how fast the snow melts.
"That can result in some concerns about localized flooding as all of that snowpack melts into the creeks and streams, and eventually rivers and gets into the reservoirs," he said.
In Southern California, there will be a couple of pleasant days starting Monday before more rain arrives midweek.
Even with the laggard start to the rainy season, water storage in California's major reservoirs has been well above average thanks to runoff from last year's historic snowpack.
Some reservoirs have been releasing water into rivers to make room for incoming storm runoff and maintain flood control protection for downstream areas.
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Even with all the rain and moisture, the threat of wildfires doesn't go away altogether.
"All of that extra vegetation that's now grown out can dry out quickly, and especially at times when we're dealing with any kind of gusty wind. There's still going to be a risk for some wildfires," Porter said. "Every drop of water is so precious in California, and that's going to continue to be the case whether there's widespread drought or not."
Porter said people should not let their guard down because the drought could return in the future, so it's important to continue finding new ways to conserve water.
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The Associated Press and CNNWire contributed to this report.