Its name derives from the Cebuano term tubod which means "spring".

The municipality was founded on November 11, 1977, when Barangays Gatub and Bagong Kahayag of the Municipality of Kumalarang and Barangays Lakewood, Bolalawan, Sebugay, Bisuangan, Lokoan, Backing, Dagum, Sapang Pinolis, Tubod, Gasa, Tiwales and Matalang of the Municipality of Lapuyan were separated and formed into an independent municipality.

[5] The most popular species of fish in the province can only be caught in the lake: the carpa and porang.

The Subanen tribe is the major ethnic group living in the suburban areas; they cultivate vegetables and corn for their own use.

Poverty Incidence of Lakewood Source: Philippine Statistics Authority[11][12][13][14][15][16][17][18] It has a hospital, the Singidas Medical Clinic, which is regarded as the cleanest hospital of the town.