Their reserve constitutes the Parry Island in Georgian Bay. The island is about 19,000 acres (77 km2) with 78 miles (126 km) of lakeshore, making it one of the larger islands in the Great Lakes. The Wasauksing First Nation now occupies the entire island, although the ghost town of Depot Harbour on the island was historically a non-aboriginal settlement.
The reserve's main road crosses to the mainland via the Wasauksing Swing Bridge, connecting to Rose Point Road in Seguin Township south of Parry Sound. The road continues to Parry Sound itself, becoming Emily Street at the municipal boundary of Parry Sound and Seguin.