Best lakes around Keystone offer diverse natural landscapes and recreational opportunities. This region is characterized by its scenic beauty, providing access to various lakes nestled within forested areas. Visitors can explore a range of aquatic environments, from tranquil dam lakes to those surrounded by dense forests. The area is known for its natural features, making it a destination for outdoor activities.
Last updated: May 17, 2026
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Horsethief Lake Campground is a beautiful lakeside spot nestled among towering ponderosa and lodgepole pines in the central Black Hills. It’s especially popular with families and travelers seeking a peaceful spot near Mount Rushmore, away from the crowds. Each site includes a picnic table, fire ring, vault toilet access, and drinking water, with nightly fees ranging from $26 to $30. From January through September, many sites can be reserved in advance, while October through December is entirely first-come, first-served. To secure a spot during peak season, it’s best to book ahead through Recreation.gov.
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Sheridan Lake South Shore Campground is a popular lakeside spot with direct access to the south boat ramp and the Flume Trail, and it is an excellent base for fishing, hiking, and family-friendly outdoor activities. Sites include picnic tables, fire rings, vault toilets, and drinking water; fees range from $26 to $30 per night. Several sites are reservable from January through September, while the rest operate on a first-come, first-served basis from October through December. Reservations are recommended during peak season and can be made through Recreation.gov.
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This beautiful dam lake was built in 1939 on the course of the Spring River. It owes its name to Philip Sheridan. A career officer in the American army, the general was sadly known for his practice of scorched earth. Both during the Civil War and during the Indian Wars. This lake has numerous infrastructures and is very pleasant, especially for its campsites.
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Center Lake is a little quieter than some of the other lakes in the area. This picturesque lake offers a picnic area, playground and small beach. As well as a campground that is ideal for tents and small campers.
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This is an easy out-and-back trail connecting Grace Coolidge Campground with Center Lake. You'll be able to admire creek and canyon views all along the way. Once at the lake, the Lost Trails lead around the lake in a loop. Continue on to a side trail at the northwestern end of the lake to reach a lovely viewpoint.
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Beautiful lake within the Black Hills. The water is surrounded by forest and is usually not busy, so it is a great place to sit in the shade and enjoy the peaceful sounds of nature.
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Another pretty lake to discover in the Black Hills.
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Visitors frequently enjoy Sheridan Lake, known for its numerous infrastructures and suitability for various activities. Center Lake is also a favorite, offering a quieter experience with a picnic area, playground, and small beach. For a peaceful lakeside spot, Horsethief Lake Campground is popular, especially with families.
Yes, several lakes are ideal for families. Center Lake features a picnic area, playground, and small beach. Sheridan Lake and Horsethief Lake Campground are also popular family destinations, offering camping and outdoor activities. Keystone Lake, centrally located, offers paddle boating, stand-up paddleboarding, and canoeing in summer, and transforms into a large ice skating rink in winter.
The lakes around Keystone are nestled within diverse natural landscapes. You'll find lakes surrounded by dense forests, like Center Lake, and others like Pass Lake, which is surrounded by dramatic alpine tundra and peaks. The region also features dam lakes, and areas with wildflowers, especially in summer.
Summer is excellent for water sports like paddleboarding and boating on Keystone Lake and Dillon Reservoir, and for enjoying wildflowers around Pass Lake. Fall offers beautiful foliage for hiking. Winter transforms Keystone Lake into an ice skating rink, providing unique cold-weather activities. The trail to Lower Crystal Lake is particularly suitable for nature hikers and birdwatchers from April to June.
Yes, there are several great hiking opportunities. The Grace Coolidge Trail connects Grace Coolidge Campground with Center Lake, offering creek and canyon views. The easy 0.8-mile Loveland Lakes Trail loops around Pass Lake, providing panoramic views. For more challenging adventures, the Mohawk Lakes System offers trails to six alpine lakes with significant elevation gain and stunning views. You can find more hiking routes in the Running Trails around Keystone guide.
Keystone Lake offers paddle boating, stand-up paddleboarding, and canoeing in summer. Dillon Reservoir is a hub for water sports, including boating, sailing, kayaking, and stand-up paddleboarding, with full-service marinas in Frisco and Dillon. Swimming is an option at Lily Pad Lake when weather permits.
While fishing isn't permitted in Keystone Lake itself, licensed anglers can fish along the Snake River. Dillon Reservoir is popular for fishing, stocked annually with rainbow trout. Pass Lake is a premier destination for various trout species, including Arctic Char. Lower Crystal Lake is home to cutthroat trout, and the deeper Upper Mohawk Lake is also preferred by fishers.
The Mohawk Lakes System offers historical interest with mining ruins dotting the landscape around its six alpine lakes. Sheridan Lake, a dam lake built in 1939, is named after Philip Sheridan, a career officer known for his role in the Civil and Indian Wars.
Center Lake is known for being quieter than some other lakes in the area, offering a peaceful spot to enjoy nature. Lily Pad Lake also provides a more secluded experience, accessible via wilderness trails.
Yes, the easy 0.8-mile Loveland Lakes Trail loops around Pass Lake, offering continuous panoramic views. Additionally, the Lost Trails at Center Lake lead around the lake in a loop, providing a pleasant circular walk.
Dillon Reservoir features a scenic 18-mile paved bike path encircling the reservoir, offering continuous mountain views. You can explore more cycling routes in the Road Cycling Routes around Keystone and Cycling around Keystone guides.


Still not found your perfect lake around Keystone? Check out the guides of these regions to see even more beautiful places.