[3] Due to an earthquake which hit the area on 25 September 1139, parts of the Kapaz Mount collapsed and blocked the path of the Kürəkçay River.

The nearby city of Khanlar was renamed after the Göygöl Lake on 25 April 2008.

In 1941, German settlers were relocated by Soviet authorities to Kazakhstan and Central Asia and Siberia on Joseph Stalin's orders.

[5] In 1925, the lake was incorporated into the newly founded "Goy Gol State Reserve" which was superseded as Göygöl National Park in 2008.

[9] Due to its beauty, the lake has been an inspiration for many novels, poems and music bands.