Raven Lake sits on the border of the districts of Muskoka and Haliburton, just 3 kms south of the historic town of Dorset, Ontario. The western portion of the lake touches highway 35 in the Lake of Bays Township while most of the lake is in the Algonquin Highlands.

Raven lies near the top of the Black River watershed providing beautiful, clean water that the residents are committed to preserving. The lake has a maximum depth of about 41.8 m (137 feet) and a surface area of 520 hectares (1285 acres). The perimeter is some 36 km (22 miles) and roughly 70% of the shoreline is preserved as Crown land.

One of the unique features of Raven Lake is Raven Rock, located on Crown land. Thought to hold spiritual values for aboriginal people, this rock cliff rises up to 75 m (250 feet) above the surface of the lake. Probably formed as a result of a regional geological fault extending through Long Arm and up into Five Mile Bay, Precambrian granites and gneisses make a bold statement. A favourite nesting place for ravens, Raven Rock creates excellent thermal air currents upon which ravens, hawks, and turkey vultures can soar for hours.

About 65% or Raven Lake's 179 residents access their properties by water. Most access the lake via the parking lot and boat ramp on Highway 35, 5 km south of Dorset.

Much of the Crown land surrounding Raven Lake is within the boundaries of the Frost Centre Lands, a popular canoe tripping area. Groups of canoes paddling the lake is a common site.