Laguna La Felipa is a 350–600 hectare laguna of clear water located within the Reserva Natural de Fauna Laguna La Felipa, in the departamento de Juárez Celman in southern Córdoba province, approximately 260 kilometers from the city of Córdoba and 17 kilometers from the town of Ucacha. The laguna is fed by the Arroyo Chucul and forms the largest wetland in an interconnected system of lagunas that originate from that watercourse. The surrounding reserve encompasses 1,307 hectares of espinal, llanura pampeana, wetlands, and pastizales.

The reserve was established in 1986 under Provincial Law 6,964, making it the first protected area under that legislation in Córdoba. It is the only area in the province classified as a Reserva Natural de Fauna. Visitors must announce their arrival at the ranger station upon entering, and the reserve is open Thursday through Tuesday from 10:30 to 18:30, with Wednesdays closed. Prior coordination with the Secretaría de Ambiente y Cambio Climático is required before visiting, and access roads require a high-clearance vehicle such as a pickup truck.

The laguna supports 146 recorded bird species and is designated an AICA (Área de Importancia para la Conservación de las Aves). Paddlers can expect to encounter more than 20 species of waterbirds including patos, siriries, macaes, gallaretas, cisnes de cuello negro, coscoroba, and espátula rosada. The surrounding vegetation includes algarrobos, chañares, and eucalyptus. Mammals such as zorros grises, hurones menores, gatos monteses, and pumas inhabit the surrounding pastizales, while coipos swim in the laguna alongside 20 native fish species including tarariras and bagres. The yarará grande (Bothrops alternatus) is among the reptile species present in the reserve.

On-site facilities include the restored casco of the historic Estancia La Ensenada, which can accommodate 20 to 30 people for alternative tourism and research activities, as well as camping. An interpretive trail and guided visits are available. Visitors are required to carry out all waste upon departure. The reserve's management plan, developed by the Universidad Nacional de Río Cuarto, was pending official approval as of mid-2025.