The lake is between the district centers of Çay, Bolvadin and Sultandağı of Afyon Province. The midpoint is at about . The altitude of the water surface with respect to sea level is 967 metres (3,173 ft). The surface area fluctuates and at times it may be exceed 125 square kilometres (48 sq mi). In past the maximum recorded depth was 21 metres (69 ft).
Lake Eber is a part of Akarçay closed basin, a tectronic basin about 7,600 square kilometres (2,900 sq mi). At the conclusion of the last glacier age (Pleistocene) a vast lake was formed in the basin. But after the water level dropped, the lake was fragmentized into two lakes. Lake Eber is at the north west and Lake Akşehir which shares the same history lies at the south east. Presently the distance between the two lakes (nearest points) is about 10 kilometres (6.2 mi).
The tributaries are rivulets from the Sultan Mountains at the south. When the level increases beyond a certain level the water is fed to the nearby lower level Akşehir lake by a channel (Eber channel).
The main plants of the lake are Typha latifolia, Phragmites australis, Lycopus europaeus and Mentha aquatica. The lake is known for the reed beds. Sometimes the remains of reed beds which detach from the land, constitute floating islands on the lake and may be used by the fishermen. The fish species are Cyprinus carpio, Cyprinus carpio, Esox lucius and Gobio gobio. The lake is also known for various waterfowls.
Due to global warming and misuse of water sources the surface area of the lake is shrinking. ( The neighbouring lake Akşehir has been mostly dried up.) Up to 1992, the most important problem was water pollution. However in 1992 the lake was declared as Natural Protected Area. (Turkish: SİT).  and the lake is slowly recovering.