It is the second largest natural non-alkali lake in Oregon with just under 10 square miles (26 km2) of water surface and a maximum depth of 420 feet (130 m).

[1] Access is via Forest Service Road 5897 from Oregon Route 58 approximately 18 miles (29 km) east of Oakridge.

The area was first inhabited by Native Americans, and the lake was later discovered by Molalla Indian Charlie Tufti.

[3] The area was also used by sheep farmers for grazing prior to the establishment of recreation facilities by the Civilian Conservation Corps during the Great Depression in 1939.

[4] Between those years, in 1984, 37,000 acres (15,000 ha) to the north, west, and south were designated as the Waldo Lake Wilderness by the federal government.

[6] To this end, the Waldo Lake Irrigation and Power Company was created in 1908 by several people including F.H.

[11] The lake was restocked with trout every other year, until 1990 when efforts to preserve the water clarity halted the practice.