The Schatzberg is part of a mountain ridge that separates the valley of the Alpbachtal in the west from the Wildschönau in the east. Its neighbouring peaks are the 1,964 m high Joelspitze to the south and the 1,899 m high Gratlspitze to the northwest. On its western side the Schatzberg is forested to just below the summit, on the eastern side the tree line is about 200 to 300 metres lower. There are many alpine pastures or alms on the Schatzberg. Nearby settlements are Alpbach to the northwest, Inneralpbach to the southwest and Auffach to the northeast.