Lake Wolfgang stretches about 10.5 kilometres from the northwest to the southeast. It is divided into two parts by a peninsula, called die Enge (the Narrow), situated roughly in the middle of its southern shore opposite St. Wolfgang, where the breadth is no more than 200 metres. The western portion of the lake at St. Gilgen is known as the Abersee.
The lake has an area of about 12.9 to 13.1 km2 and is surrounded by the Salzkammergut mountain range. On the northern side, the Schafberg is located. A rack railway, the Schafbergbahn leads up to the summit at 1,782 m. Due to the steep shore at its foot only a footpath connects St. Wolfgang and the village of Ried with St. Gilgen along the Falkensteinwand, the set of the Bergpsalmen ("mountain psalms") lyric anthology written by Joseph Viktor von Scheffel in 1870. In the south and southwest of Lake Wolfgang lies the Osterhorngruppe, with heights up to 1,800 metres. Directly south of St. Gilgen rises the Zwölferhorn (1,522 m), which can be visited by cable car.
The settlements around the lake, especially St. Wolfgang and St. Gilgen are popular resort towns, mainly in summer. The GasthausWeißes Rössl at St. Wolfgang is the set of the famous 1897 operettaThe White Horse Inn by Ralph Benatzky, performed throughout the world and filmed several times. Furthermore, the area around the lake was the location of several Heimatfilm movies, suggesting an untouched alpine idyll. Because Lake Wolfgang has been the vacation resort of former German chancellor Helmut Kohl for many years, the film director Christoph Schlingensief made the lake a site of his Chance 2000 project of 1998 when he invited "Germany's four million unemployed" to take a bath in the lake and flood Kohl's residence.