Waccasassa Bay is a large, shallow coastal bay and estuary on Florida's Nature Coast, forming where the Waccasassa River empties into the Gulf of Mexico. The bay is the aquatic core of the 19,000-acre Waccasassa Bay Preserve State Park, a vast and remote expanse of salt marshes, mangrove islands, and tidal creeks accessible only by watercraft. The paddling character is defined by open, calm saltwater flats and meandering channels through pristine marsh, offering a "real Florida" experience with significant exposure to wind and sun. There are no boat launches or facilities within the preserve itself. Primary access for paddlers is from the Waccasassa River Park boat ramp at the west end of County Road 326 near Gulf Hammock. This concrete ramp has restrooms, picnic tables, and parking, and is open from 8 a.m. to sunset. From this launch, it is approximately a four-mile paddle down the tidal Waccasassa River to reach the open waters of Waccasassa Bay. Alternative, more exposed launches are available in Yankeetown and from the shoreline of Cedar Key, but these require navigating open Gulf waters to reach the bay.

The entire area is tidal, with water levels fluctuating at least a foot. Paddlers using the Waccasassa River access must time their trip with the tides, as a strong outgoing current can make the return paddle upstream challenging. The bay itself is shallow and exposed, making wind a primary safety consideration. Fetch across the open water can build chop, though the area can provide a sheltered alternative when winds are strong on the open Gulf further offshore. The remote nature means there are no facilities, provisions, or reliable cellphone service once on the water. Four primitive, first-come-first-served campsites along the Florida Circumnavigational Saltwater Paddling Trail provide opportunities for multi-day trips. Wildlife is abundant, with notable bird populations including swallow-tailed kites that nest in the area each spring. The aesthetic is one of an undeveloped coastal wilderness, with palm-topped islands and extensive grass flats.