Lake Grahovo (Montenegrin: Граховско језеро, Grahovsko jezero) is a lake in Nikšić municipality, near the town of Grahovo in southwestern Montenegro.

It is an artificial lake which is an accumulation of the Grahovo River.

The lake is a significant water reservoir used for the agricultural production of Grahovo, but is also used for sport and recreation.

[2] Construction of the dam was initiated in 1952, finished in 1962, while it has undergone a reconstruction in 1988.

The source of the lake is in the area of Ševrljuga[3] Vujačić, Marko (1990).