This lake, which is located in a forest and mountainous area, is part of the zec des Martres, that is to the northeast of Grands-Jardins National Park.

The southern part of Petit lac Malbaie is accessible by a forest road from the south.

This mountain lake is entirely located in an area where forestry has always been the predominant economic activity; recreational tourism, second.

Due to the altitude, this lake is normally frozen from mid-November to the end of April; however, the safe ice traffic period is usually from early December to mid-April.

The toponym "Petit lac Malbaie" was formalized on December 5, 1968, at the Place Names Bank of the Commission de toponymie du Québec.