Running Water is a census-designated place (CDP) in Bon Homme County, South Dakota, United States.

[6] Running Water is located on the north side of the Missouri River in southern Bon Homme County along the South Dakota-Nebraska state line.

According to the United States Census Bureau, the Running Water CDP has a total area of 2.1 square miles (5.4 km2), all of it land.

[7] Running Water is located along the upper portion of Lewis and Clark Lake, a Missouri River reservoir.

The South Dakota Department of Game, Fish and Parks operates a small recreational area for lake and river access including a boat ramp at Running Water.