Sensing and monitoring deformation pattern of dams is often one of the most effective ways to understand their safety status. The main objective of the present study is to find the extent to which rising reservoir level affects the mechanism of deformation of the Yamula dam under certain changes in the reservoir level conditions during the first filling period. A new dynamic deformation analysis technique was developed to analyze four geodetic monitoring records consisting of vertical and horizontal displacements of nine object points established on the dam and six reference points surrounding it, to see whether the rising reservoir level is responsible for the vertical and horizontal deformations during the first filling period. The largest displacements were determined in the middle points of the dam construction. There is an apparent linear relationship between the dam subsidence and the reservoir level. The dynamic deformation model was developed to model this situation. The model infers a causative relationship between the reservoir level and the dam deformations. The analysis of the results determines the degree of the correlation between the change in the reservoir level and the observed structural deformation of the dam.