Lakewood is a village that is located in Preston Township, Wayne County, Pennsylvania, United States.

It is situated on Pennsylvania Route 370 (PA-370), approximately 7 miles (11 km) east of Thompson, Pennsylvania and about 10 miles (16 km) southwest of Hancock, New York.

The Preston Township Municipal Building, the township's only school, Preston Area School, and the Northern Wayne Community Library, part of the Wayne Library Alliance, are both located within the community.

The Preston Area School has a student enrollment of approximately 190 from grades K-8.

The school has 28 full and part-time teachers, as well as a support staff of 10 members, and a parent–teacher organization.