Completed in 1952, the reservoir is one of the largest in Russia,[1] providing power (Tsimlyansk Hydroelectric Station [ru]) and irrigation to the Rostov and Volgograd regions.

Crops grown around the lake include wheat, rice, cotton, maize, alfalfa, fruit, grapes, and vegetables.

The Tsimlyansk Dam also provides flood control for the lower Don River basin.

Completion of the lake resulted in strong local industrial growth.

Along with the Volga–Don Canal, the reservoir forms part of a waterway for the shipping of raw materials from the upper Don and Volga–Caspian basins to the lower Don River – Sea of Azov basin and vice versa.