[1] Estimates of the size of the basin range from 634 to 801 square miles, and the basin's elevation ranges from around 6,380 feet (level of Mono Lake as of 1986) to 13,061 feet atop Mount Dana near the Sierra Crest.

[5][6][7] Notable features in the basin include Mono Lake and the Mono-Inyo Craters, as well as the town of Lee Vining.

[9]: 45 From 4.5 to 2.6 million years ago, large volumes of basalt were extruded around what is now Cowtrack Mountain (east and south of Mono Basin); eventually covering 300 square miles (780 km2) and reaching a maximum thickness of 600 feet (180 m).

As of 1.6 million years ago, Lake Russell discharged to the northeast, into the Walker River drainage.

Volcanic activity is related to the Mono-Inyo Craters: the most recent eruption occurred 350 years ago, resulting in the formation of Paoha Island.