Rangeley Lake is located in Franklin County, Maine in the United States. It is fed by several streams. Its waters flow out from the lake's northwestern end into the short Rangeley River, then into Mooselookmeguntic Lake, and ultimately into the Androscoggin River, Merrymeeting Bay, the lower Kennebec River, the Gulf of Maine and the Atlantic Ocean.
The lake is one of the major headwater lakes of the Androscoggin watershed. Its elevation is 1,518 feet. above sea level and its area is about 10 square miles The lake's depth is shallow near the shore with a central basin averaging about 95 feet deep . The maximum depth is 149 feet.
It occupies parts of the Franklin County's Minor Civil Divisions of Rangeley and Rangeley Plantation. The town of Rangeley is located on the northeastern shore of Rangeley Lake.
Maneskootuk Island (also called Doctors Island) is in the eastern part of Rangeley Lake. In the western part there is a small group of islands collectively called South Bog Islands.