Visitors have access to the lake from five public boat landings.

A dam is located on the lake's primary outlet, which feeds into the Pelican River.

Pelican Lake serves as one of 21 reservoirs used to regulate and maintain optimal water flow on the Wisconsin and Tomahawk rivers, the process of which is facilitated in part by the Wisconsin Valley Improvement Company.

The lake's water clarity has historically been low, and its bottom composition is 40% sand, 20% gravel, 10% rock, 30% muck.

Several invasive species are or have been found in the lake, including banded mystery snail, Chinese mystery snail, curly-leaf pondweed, Eurasian water-milfoil, purple loosestrife, and rusty crayfish.