Wakaw Lake sits in the RM of Hoodoo No. 401 in central Saskatchewan, approximately 102 kilometres northeast of Saskatoon and 73 kilometres south of Prince Albert. The lake takes its name from the Cree word meaning "crooked," a reference to its curved shape. It covers roughly 2,882 acres with about 30.5 miles of shoreline and serves as the headwaters of the Carrot River, a 300-kilometre waterway that eventually meets the Saskatchewan River at The Pas, Manitoba. The lake is not particularly deep, which keeps it accessible for recreational paddling.

The primary access point for paddlers is Wakaw Lake Regional Park, located at the western end of the lake. The park features a wide sand boat launch capable of double launching, with two large floating docks and one day-use dock. Overnight docking is not permitted at the launch area. The park also operates a full marina with 56 boat slips and a gas dock. Boat launch fees run $13 for a daily pass, $29 for a weekend, and seasonal passes are available for both campers and non-campers.

For paddlers who prefer not to bring their own equipment, the park rents canoes, kayaks, paddle boards, and pedal boats at $12 per hour for human-powered craft. Rentals operate daily from 12 to 8 PM from the beach, which features groomed sand and shallow entry into the water. There is no lifeguard on duty.

The lake is a busy recreational destination with around 800 cabins along its shores and multiple communities including Wakaw Lake, Nelson Beach, Nickorick Beach, Cudsaskwa Beach, Balone Beach, Domremy Beach, and Berard Beach. Paddlers should expect significant motorized boat traffic, particularly during summer weekends. Fishing for northern pike, walleye, and perch is popular on the lake, and paddlers may observe fish activity near the shoreline. The surrounding area offers access to nearby historic sites including Batoche and Fort Carleton.

The park provides modern washrooms, shower facilities, laundry, and a sewer dump station for campers, along with dining options and a concession near the beach. Park entry is $10 per day or $25 for a weekend. The park was founded in 1965 and is supported by six surrounding municipalities.