Azure Lake is ringed by peaks which rise about above its shoreline. North of the lake are Mount Huntley, Batoche Peak, Tryfan Mountain, and Buchanan Peak. Garnet Peak, Wells Gray Park's third highest mountain, rises north of Tryfan, but is not visible from anywhere on the lake. South of the lake are Zodiac Mountain and Azure Mountain. East of the lake's upper end is Mount Hogue. The deeply incised valley of Azure Lake was carved by glaciers during past Ice Ages resulting in rugged and steep shorelines. Hanging valleys are seen along both sides of the lake and there are waterfalls on nearly every tributary stream; Garnet Falls, Crystal Falls, Roostertail Falls, and Rainbow Falls are the most notable.