The Lakers varsity programs compete in men's and women's basketball, ice hockey, volleyball, soccer, cross country running, rowing, and nordic skiing.

Introducing the 705 Challenge Cup in 2016, the results of all regular season games between the Lakers and the Voyageurs varsity teams for men's and women's basketball, ice hockey, and soccer, comprised the overall won-loss record in determining the annual Cup winner.

The Lakers men's basketball team debuted in U Sports and OUA play in the 2014–15 season.

The head coach of the team is Thomas Cory, who was hired to replace Chris Cheng in June 2020.

The Lakers play their home games at the Robert J. Surtees Athletic Centre on the campus of Nipissing University.