The Reilly Commission states that the 2,029 hectares region around Canim Lake are set aside for the Shuswap First Nation.

During the summer, recreational activities include fishing, hiking, horseback riding, cliff jumping, water skiing, canoeing and kayaking.

Multiple resorts located around the lake provide horse adventures for both novice and experienced riders; options include overnight and multi-day trips.

Wildlife are often seen around the lake and include black bears, moose, deer, wolves, foxes, cougars, beavers, otters, migratory waterfowl, osprey, bald eagles and song birds.

Online records indicate between 1938 and 1998, the Government of British Columbia stocked Canim Lake (sporadically) with hatchery reared Kokanee and Rainbow Trout.