The islet is uninhabited, the only building being a lighthouse. According to legend, the island was a rock which had fallen from the hands of a cyclops.
Lampione is part of the Riserva Marina Isole Pelagie, and its vegetation and wildlife are strictly protected. Animal species include the endemic Podarcis filfolensis ssp. laurentimulleri,(also found on Linosa) which is a subspecies of Maltese Wall Lizard, numerous migrating birds and the Armadillidium hirtum pelagicum, a land crustacean. The waters are populated by sharks, including the sandbar shark, groupers, lobsters and varieties of yellow and pink coral.