It is on the southwest side of the Henrys Lake Mountains of northern Fremont County, approximately two miles south of the continental divide along the Montana state line, just west of Targhee Pass and north of Sawtell Peak. The lake provides the headwaters of the Henrys Fork, a tributary of the Snake River. The lake lies less than across the continental divide from the headwaters of the Missouri River in southwestern Montana. It is due west of the western boundary of Yellowstone National Park, located in an enclave of Caribou-Targhee National Forest.