Åraksfjorden is a lake in the municipality of Bygland in Agder county, Norway.

The 11.96-square-kilometre (4.62 sq mi) lake is part of the Otra drainage basin.

The northern part of the lake is fed directly by the river Otra.

The southern part of the lake goes through a narrow channel which leads into the Byglandsfjorden.

The Norwegian National Road 9 runs along the eastern side of the lake.