It is located at 600 m above sea level between Vitosha, Lozenska, Lozen, and Dolni Pasarel villages as well as between Gabra and German.

Lake Pancharevo is 2,4 km long and up to 700 m wide, reaching a depth of 18 m, and is situated 12 km southeast of the capital city of Sofia, where the Vitoshka Bistritsa flows into the Iskar.

Sports centres and catering establishments have been constructed around the lake, making it a favoured outing location for the residents of Sofia.

The lake was created in 1956 in connection with the construction of Hydrohub "Iskar", as a drinking, irrigation and energy source for the Sofia Agglomeration.

The (Sredets) National Rowing Base is located on the shore of Lake Pancharevo.