Lake Lorraine is a census-designated place (CDP) in Okaloosa County, Florida, United States.

The residential neighborhood originally developed along circumferential Country Club Road, surrounding a golf course, in the 1970s.

The recession of 1976 left a number of properties in the interior of the golf course U in an unfinished and abandoned state.

Further growth took place in the 1990s and 2000s, when the formerly wooded Black's Point area was developed with streets bearing the names of famous golfers.

During World War II, adjacent Eglin Field anchored a battleship-size target float in the Choctawhatchee Bay, just south of Black's Point, the southernmost point of the Lake Lorraine area, an area designated during the war as Eglin water range 60.