Cayuga Lake is the second largest of the Finger Lakes, located East of Seneca Lake which is the largest finger lake; marginally larger in surface area but a lot larger in volume. The city of Ithaca is located on the southern shore of Cayuga Lake. Cayuga Lake has one small island located near Union Springs, Frontenac Island. It is one of only two islands in the Finger Lakes, the other being Squaw Island on Canandaigua Lake.
The fish population is managed and substantial sport fishing is practiced, including smelt, lake trout and smallmouth bass fishing.
Cayuga Lake is very popular among recreational boaters. A large state marina and boat launch is located at the southern end of the lake in Ithaca (Allan H. Treman State Marine Park, the largest inland marina in New York). There are two yacht clubs on the western shore: Ithaca Yacht Club a few miles north of Ithaca, and Red Jacket Yacht Club just south of Canoga. There are several other marinas and boat launches scattered along the lake shore.