It is located in the valley communities of Alta Valsugana e Bersntol.

[2] Caldonazzo is famous for water sports such as canoeing, sailing, wind surfing and water skiing.

[3] It is the only lake in Trentino where water skiing is permitted,[2] and notably is the "training ground" for world champion skier Thomas Degasperi.

[4][5] In 2024, Lake Caldonazzo received four blue flags its Lido, Tenna, San Cristoforo and Calceranica beaches for their exceptionally clean water.

[6] Many events take place on the lake, especially during the summer.