The river drops more than 200 feet (61 m) over five separate named cataracts beginning two miles (3.2 km) from its mouth.

The trails to two of the Black River waterfalls, Gorge and Potawatomi, have been designated National Recreation Trails due to their unique stairway designs (to provide easier access down the steep slopes) and observation platforms.

The river drops 30 feet (9.1 m) around a large piece of conglomerate rock, boulders and tree trunks into a deep gorge.

Rainbow Falls is the northernmost waterfall on the Black River, less than one mile (1.6 km) from Lake Superior.

The approach to this waterfall is strenuous: 200 steps are built on staircases and into the side of the hill, creating a very steep approach.From the mouth: