Lake Maraboon is located approximately 20–25 kilometres south-west of Emerald in Queensland's Central Highlands, created by Fairbairn Dam on the Nogoa River. Completed in 1972, the dam forms one of Queensland's largest inland water bodies by surface area. According to one paddling resource, Maraboon is considered the fourth most expansive lake in Queensland, but with two larger lakes being ephemeral and another a known haunt of estuarine crocodiles, it effectively functions as the largest body of reliably paddleable, crocodile-free water in the state — a significant distinction for paddlers planning trips in Queensland.

The lake's name derives from the local Aboriginal language and translates roughly as "where the black ducks fly," which reflects the area's abundant birdlife. Wildlife watching is a noted activity around the lake, and the surrounding landscape supports a variety of species.

Kayaking is explicitly listed among the popular water activities on Lake Maraboon, alongside waterskiing and jet skiing. There are no boating restrictions on the lake beyond standard Queensland rules, though there is a designated no-boating and no-fishing zone around the dam wall. Paddlers should be aware of motorised vessel traffic, as the lake is actively used for water skiing and jet skiing. A designated swimming area exists at a safe distance from the boat ramp.

A boat ramp is available at the lake, along with car parking, picnic areas, toilets, BBQs, treated water, and camping facilities. The BIG4 Lake Maraboon Holiday Village provides accommodation options ranging from cabins to powered and unpowered caravan and camping sites. Sunsets over the lake are noted as a particular visual feature, with the sky reflecting across the water's surface.

Fishing at Lake Maraboon requires a Stocked Impoundment Permit Scheme (SIPS) permit, available from the Emerald Post Office or online. Stocked species include barramundi, golden perch, silver perch, Murray cod, and southern saratoga. Red claw freshwater crayfish are abundant and require no permit to catch, with no size limit in effect — and anglers are specifically asked not to return them to the water.

The lake's address for navigation purposes is Selma Road, Gindie, Queensland 4702, and it sits within the Nogoa Mackenzie water scheme managed by Sunwater.