It is part of the Nelson River watershed, in the Hudson Bay drainage basin in Northern Manitoba, Canada.

The lakes sits in Churchill River Upland portion of the Midwestern Canadian Shield forests and is surrounded by mixed forest with stands of black spruce, white spruce, jack pine, and trembling aspen.

The shoreline is characterized by steeply sloping irregular rock ridges and poorly drained areas of muskeg.

[3] The lake was named after Peter Albert, a prospector in the area.

[6] Alberts Lake is part of the "Mistik Creek Loop," a well-known remote canoe trip which is 80 km (50 mi) in total length and can be paddled in four days.