We investigate the problem of the fermion mass hierarchy in supergravity models with flat directions of the scalar potential associated with some gauge singlet moduli fields, The low-energy Yukawa couplings are non-trivial homogeneous functions of the moduli and a geometric constraint between them plays, in a large class of models, a crucial role in generating hierarchies. Explicit examples are given for no-scale type supergravity models. The Yukawa couplings are dynamical variables at low energy, to be determined by a minimization process which amounts to fixing ratios of the moduli fields. The Minimal Supersymmetric Standard Model is studied and the constraints needed on the parameters in order to have a top quark much heavier than the other fermions are worked out, The bottom mass is explicitly computed and shown to be compatible with the experimental data for a large region of the parameter space.