The treaty delimited the boundaries of Greece, Bulgaria, and Turkey. Specifically, the treaty provisioned that all the islands, islets and other territories in the Aegean Sea (Eastern Mediterranean in the original text) beyond three miles from the Turkish shores were ceded to Greece, with the exception of Imbros, Tenedos and Rabbit islands (Articles 6 and 12). There is a special notation in both articles, that, unless it is explicitly stated otherwise, the Turkish sovereignty extends three miles from Asia Minor shores. The Greek population of Imbros and Tenedos was not included in the population exchange and would be protected under the stipulations of the protection of the minorities in Turkey (Article 38).

The major issue of the war reparations, demanded from Greece by Turkey, was abandoned after Greece agreed to cede Karaağaç to Turkey.

Turkey also formally ceded all claims on the Dodecanese Islands (Article 15); Cyprus (Article 20); Egypt and Sudan (Article 17); Syria and Iraq (Article 3); and (along with the Treaty of Ankara) settled the boundaries of the latter two nations.

The territories to the south of Syria and Iraq on the Arabian Peninsula, which still remained under Turkish control when the Armistice of Mudros was signed on 30 October 1918, were not explicitly identified in the text of the treaty. However, the definition of Turkey's southern border in Article 3 also meant that Turkey officially ceded them. These territories included the Mutawakkilite Kingdom of Yemen, Asir and parts of Hejaz like the city of Medina. They were held by Turkish forces until 23 January 1919.

By Articles 25 and 26 of the Treaty of Lausanne, Turkey officially ceded Adakale Island in the Danube River to Romania by formally recognizing the related provisions in the Treaty of Trianon of 1920. Due to a diplomatic irregularity at the 1878 Congress of Berlin, the island had technically remained part of the Ottoman Empire.

Turkey also renounced its privileges in Libya which were defined by Article 10 of the Treaty of Ouchy in 1912 (per Article 22 of the Treaty of Lausanne in 1923.)
List the territories ceded by Turkey as part of the treaty of Lausanne.
- All territories in the Aegean Sea except for Imbros, Tenedos, and Rabbit islands
- Dodecanese islands
- Cyprus
- Egypt
- Territories to the south of Syria and Iraq in the Arabian Peninsula
- Adakale island in the Danube river