Saskatoon Lake is located within Saskatoon Island Provincial Park, approximately 25 kilometres west of Grande Prairie along Highway 43. The park, established in 1932, is one of Alberta's oldest provincial parks and has held federal Migratory Bird Sanctuary status since 1948. The lake sits alongside the smaller Little Lake, with the park occupying an isthmus between the two water bodies.

The primary access point for paddlers is through Saskatoon Island Provincial Park, where a dock provides convenient lake entry. To reach the park from Grande Prairie, travel west on Highway 43 for about 25 kilometres, then turn right northbound onto Range Road 81, which leads directly into the park gates. The park is open year-round, though paddling is a warm-season activity.

Canoeing and kayaking are explicitly supported activities on the lake. The lake is not suitable for swimming due to low water levels and thick vegetation, and motorized boats have not been recommended since around 2010 when water levels dropped significantly. This effectively makes Saskatoon Lake a non-motorized paddling environment, which shapes the overall character of the experience on the water.

The lake is particularly noted for its abundance of waterfowl, and the surrounding park habitat — a mix of forests, wetlands, shrublands, and native prairie — supports a wide variety of grassland, forest, and lakeside birds. Trumpeter Swans are among the notable species present. The Migratory Bird Sanctuary designation underscores the ecological significance of the area for birdwatchers paddling the lake.

Park facilities include powered and non-powered camping sites across three loops, a group use site on the Saskatoon Lake shoreline with power, picnic tables, a cook shelter, fire pit, volleyball net, and vault toilets. Interpretive signage throughout the park covers the history, ecology, and natural features of the site. The park also offers hiking trails with viewpoints overlooking both Saskatoon Lake and Little Lake. On clear days, the Rocky Mountains are visible on the southwestern horizon from higher vantage points in the area.

The lake sits on Treaty 8 territory, a traditional gathering place of the Beaver, Cree, Dene, and Métis peoples.