Lake Arrowhead State Park consists of 524 acres in Clay County, 14 miles southeast of Wichita Falls. The area was acquired in 1970 from the city of Wichita Falls under the State Parks Bond Program and was opened the same year.

Lake Arrowhead itself is a reservoir on the Little Wichita River and covers approximately 16,200 surface acres, with 106 miles of shoreline. Built primarily as a water supply by the city of Wichita Falls, the lake is also a major recreational site for the North Central Plains.