Huelgoat is popular with tourists and holidaymakers due to its impressive natural setting among the vestiges of the ancient forest that once covered inland Brittany. Once part of royal and ducal lands, the forest is now overseen by the French forestry commission, the National Forests Office. It has an area of 10 square kilometres. A large replanting scheme has repaired much of the damage sustained by the forest in storms on the 15–16 October 1987, when 3.1 square kilometres of trees were levelled or damaged.
The village lies on a lake created between the 16th and 18th centuries to supply water to local silver-lead mines by means of a 3 km (1.9 mi) leat or canal.
A number of geological and prehistoric curiosities can be found by following trails in and around the village and forest. Among these are:
Le Chaos de Rochers, the Chaos of Rocks, is a jumble of hundreds of large boulders below the dammed lake, into which the river vanishes. A 10 m descent down ladders is required to see it again, running rapidly below a dark cave called the Devil's Grotto.
La Roche Tremblante or Trembling Rock, is a 137-tonne boulder nearby, pivoted so it can be made to rock by a person pushing against one point.
Le Champignon, or The Mushroom, is a large rock balanced on a smaller one to give the eponymous appearance.