Crater Lake Park was established as a result of the Cariboo-Chilcotin Land-Use Plan Goal 2 (Special Feature) process.
It protects a unique lake feature. The lake is steep sided and deep, surrounded by basalt formations and fed by a canyon and a series of small, visually attractive waterfalls. The lake has a resident population of rainbow trout and is reported to have freshwater clams.
Recreation use is presently focused on wildlife viewing and scenic appreciation, fishing, picnicking, and hiking. The park is located approximately 35 kilometres southeast of 100 Mile House.