The lake has a surface of 3.77 km2 (1.46 sq mi) and reaches a maximum depth of 6.1 m (20 ft), while the average depth is 3.1 m (10 ft). Bonnie Lake drains a total area of 49.6 km2 (19.2 sq mi). The lake drains through its south shore into Stony Creek which empties into the North Saskatchewan River.
There is a small camp ground with 25 sites, power, and a beach, managed as the Bonnie Lake Provincial Recreation Area. There are very few fish in the lake, but there is a large number of birds on the lake. There is also a small golf course very close to the lake.