In addition to being a source for drinking water, Lake Thunderbird's secondary uses include numerous recreational activities.

The lake is named for the Native American legend of the Thunderbird, a supernatural bird of power and strength.

A feasibility study in 1954 led to a plan report in May 1961, and construction began on Norman Dam in 1962.

[1] Oklahoma State Highway 9 was re-routed in 1963 from present-day Alameda Street to its current location, south of the lake.

[3] The Bureau owns the dam, which is operated by the local Central Oklahoma Master Conservancy District.

[5] The Boathouse Organization in cooperation with the Lake Thunderbird Education Foundation make possible several events throughout the year, including sailing lessons, sailing camps for children, an annual fishing derby for developmentally disabled children, sanctioned sailboat races, and fun regattas.

Regular weekly organized open water swimming events are organized by the Triathlon Club of Oklahoma City in partnership with the Lake Thunderbird Boathouse from the end of April through to the end of September each year.

On April 6, 2021 local swimmer Piers Hale swam the length of the lake, covering a distance of 16,800 yards in 6 hours and 10 minutes.

The park has 447 primitive campsites and unfurnished one-room lake huts as well as RV provisions.

Toby Keith wrote a 2010 song "Kissin' in the Rain" about Lake Thunderbird off his Bullets in the Gun album.