Yelcho Lake is a large fjord-shaped lake located in Chilean Patagonia, in southern Palena province of Los Lagos Region, Chile. The lake receives the waters of the Futaleufu River at its southern tip, near the tiny settlement of Puerto Ramirez. The river then flows northward through mountainous and glaciated terrain, until it outflows via the Yelcho River north-west and empties into Gulf of Corcovado, near Chaitén. The lake is a used for fly fishing, and several lodges and hotels operate on its shores. Yelcho Lake is quite remote and is most frequently accessed via the town of Chaitén to the north, either by hiring a small charter flight from the city of Puerto Montt or by a series of long ferry rides from Puerto Montt or from the port of Quellón on the island of Chiloe on the other side of the Golf of Corcovado.
The section of the Carretera Austral which runs along the north-western shore of Yelcho Lake is currently being paved, which should be ready by 2016. On the southern shore of the lake there is a secondary road which later forks to access the towns of Palena and Futaleufu.