Lake Wallace is a lake in Edenhope, Victoria, Australia, featuring abundant bird life and located on the edge of the township.

It is encircled by a 5.5-kilometre (3.4 mi) track suitable for walking, running or bike riding, with plenty of shade and wildlife.

Henley Park is located near the southern end of the lake, with a children's playground, shelters containing tables and barbecues, toilets and showers.

During times of high levels it is used for swimming, fishing and boating activities.

In 1866, Australian cricketer Tom Wills trained a team of Aboriginal people on the lake's banks.