Construction on Martin Dam began in 1923 and was completed in 1926, creating what was, at that time, the largest human-made body of water in the world.

Originally known as Cherokee Bluffs for the geological formation upon which it was built, the dam was renamed in 1936 in honor of Thomas Martin, the then-president of Alabama Power Company.

[3] The lake has several landmarks, such as the Smith Mountain Fire Tower,[4] Kowaliga Bridge, and several marinas, but perhaps the most recognized landmark on the lake is Chimney Rock, a large rock formation that resembles a chimney.

The area was the Tallapoosa River gorge before Martin Dam was built, and the water is more than 150 feet (46 m) deep.

The spot is visited by thousands of boaters yearly, who park in front of "The Rock" to watch people climb up 60 feet (18 m) and jump off into the water.