It is located along the Vestfjorden, about 2.5 kilometres (1.6 mi) west of the village of Tranøy.

The lighthouse has a white, red, or green light (depending on direction) that is occulting three times every 10 seconds.

The 27-metre (89 ft) round cast iron tower is painted red with one white horizontal band.

Beginning in 1993, the Tranøy lighthouse station has been developed as a tourist attraction.

The site has views across the Vestfjorden to the high mountains of the Lofoten islands.