It is also located about 2.5 mi (4.0 km) south of Radford.

It is named after William Graham Claytor, then vice president of Appalachian Power Company (APC), who was instrumental in the dam's construction.

APC is now a subsidiary of American Electric Power (AEP) who owns the dam.

The dam was constructed and its power station commissioned in 1939.

The reservoir covers 4,472 acres (1,810 ha) and stretches 21.67 mi (34.87 km) behind the dam.