Granville Stapylton, part of the explorer Thomas Mitchell's 1836 expedition into western Victoria, reconnoitered Pink Lake on 20 July 1836.

[2] The lake received its name from its distinctive pink colour.

[4] Until recently it was assumed that red algae created the pink hue; however, recent research reported by Australian Geographic describes the colour as result of a pigment produced by the Salinibacter ruber bacteria.

Salt has been harvested from the lake since the 1860s and on average 20 tonnes a year are harvested by the Mount Zero Olives company working in conjunction with the Barengi Gadjin Land Council.

[5] Commercial harvesting stopped in the 1970s but was resumed after negotiations between the Victorian State government, the Barengi Gadjin Land Council and the Mount Zero Olives Company in 2009.