Martin, of the United States Geological Survey, Iliamna is said to be "the name of a mythical great blackfish supposed to inhabit this lake, which bites holes in the bidarkas of bad natives.

For this and other reasons, the road is also believed to significantly reduce fuel costs for the Lake Iliamna and Bristol Bay regions.

August through September is prime time for catching fat rainbow trout, some of which exceed 28 inches long.

The Kvichak River Policy (the drainage of Lake Iliamna) is catch and release on trout (and all other native fish), but not on salmon.

Sockeye (red) and Chinook (king) salmon are consistently found in the lake and are open to harvest under Alaska Department of Fish and Game Regulations.

Local residents have a number of stories about the alleged Iliamna Lake Monster, an unknown aquatic creature.