[1] The lake is popular with land sailors,[1] and is bound in the north by Safety Bay Road, in the east by Mandurah Road and in the west by the Mandurah railway line, with the Warnbro railway station bordering the north-western corner of the lake.

The lake, situated on a Holocene beach ridge, was once connected to the sea and was formed approximately 6,000 to 7,000 years ago.

Within the lake, Holocene nonmarine microbial structures, reported as either stromatolites or thrombolites, have been found.

[3] The Lakes Cooloongup and Walyungup continue to be of spiritual significance for the local indigenous population as the place where the Sea Waugal laid her eggs.

[3] Tuart forest surrounds Lake Walyungup, while a canopy of Swamp banksia is also present.