Every chemical is dangerous in large enough quantities, including dihydrogen monoxide.
Yes, there's actually a condition called "water poisoning", also known as "water intoxication" or "overhydration". Basically, your body's fluids need a certain concentration of cations such as sodium and potassium in them in order for your body to function properly. Drinking obscene amounts of water can dilute their concentration and flush out those cations, resulting in many adverse conditions, including death in extreme situations. Sodium is bad for you in large amounts, but you do actually need a certainl level of sodium to survive.
So, just remember: drinking water can kill you.