The lake itself is lined with subalpine fir and lodgepole pine, but the 1988 fires have affected some areas. Another approach to Ice Lake is via the Norris Campground trail, which is about 4.3 miles. The trail-head is located in the east central edge of the campground. After about a half mile the trail junctions and the southern trail crosses Solfatara Creek, then continues through lodgepole pines, and a meadow before reaching the north side of Ice Lake. Ice Lake and nearby Wolf and Grebe lakes are the headwaters of the Gibbon River, which flows past Norris Geyser Basin and merges with the Madison River at Madison Junction.
Ice Lake is fed by underground springs and seepage.
Fish have been unable to establish in the lake, even though massive stocking efforts between 1905 and 1961 released nearly 4 million graying, brook trout, cutthroat trout and rainbow trout. Because there is not a constant flowing inlet and outlet, conditions are poor for spawning, leaving the lake barren offish. During winter, the 224-acre lake freezes over, but not solid. It was named Ice Lake circa 1900 because nearby Norris Hotel cut its ice supply from this small lake. On the northwest side of the lake the trail joins the Howard Eaton Trail and continues east to Wolf and Grebe lakes.