It was named after one of the original settlers of Barnet, Vermont, Colonel Alexander Harvey.

The outlet at the northern end of the lake is held back by a dam, owned by the town of Barnet.

Ocean explorer and SCUBA inventor Jacques Cousteau[3] had influential experiences on Harvey's Lake as a young boy in the early 1920s.

While attending a summer camp he experimented with staying underwater by breathing through hollow reeds found in the lake shallows.

Though he could not yet swim well, this allowed him to stay underwater for extended periods.