Lake Texoma is one of the largest reservoirs in the United States, the 12th largest Corps of Engineers (USACE) lake, and the largest in USACE Tulsa District. Lake Texoma is formed by Denison Dam on the Red River in Bryan County, Oklahoma, and Grayson County, Texas, about 726 miles (1,168 km) upstream from the mouth of the river. It is located at the confluence of the Red River and Washita Rivers. The damsite is approximately 5 miles (8.0 km) northwest of Denison, Texas, and 15 miles (24 km) southwest of Durant,Oklahoma. Lake Texoma is the most developed and most popular lake within the USACE Tulsa District, attracting approximately 6 million visitors a year.

Denison Dam and Lake Texoma were authorized for construction by the Flood Control Act approved June 28, 1938, (Public Law 75-791) for flood control and generation of hydroelectric power. The dam, spillway, and outlet works were started in August 1939 and completed in February 1944. At that time, Denison Dam was the largest rolled, earthfilled dam in the United States. The project was put into operation for flood control in January 1944. The first hydroelectric turbine was placed in operation in March 1945, while a second unit became operational in September 1949.

Diverse recreational opportunities are abundant. The lake area includes two wildlife refuges, two state parks, fifty four USACE-managed parks, twelve marinas, twenty-six resorts, hundreds of campgrounds and a variety of excellent golf courses. Power boating, sailing, personal watercraft, water skiing and wind surfing are all popular pursuits. Lake Texoma has become a major sailing center based on the lake's size, depth and miles of sailing shoreline.

Lake Texoma's popularity is largely attributed to its sheer size as well as its proximity to the Dallas-Fort Worth Metroplex, about an hour's drive south of the lake. The Lake Texoma area, known simply as Texoma, is experiencing a rapid period of economic growth due to its large number of tourists.

Management of the fishery resources at Lake Texoma is the responsibility of the Oklahoma Department of Wildlife Conservation (ODWC) and the Texas Parks and Wildlife Department (TPWD). Lake Texoma provides habitat for at least 70 species of fish, several of which were introduced by the ODWC and TPWD. These agencies maintain a supplemental stocking program to improve the fishery resource. Those species popular for recreational fishing include largemouth, spotted, white, and striped bass; white crappie; and channel, blue, and flathead catfish; The striped bass fishery at Lake Texoma is extremely popular and is considered one of the most successful striped fisheries in the nation. In addition, downstream of the dam is a tailwater fishery that supports striped bass, as well as channel, blue, and flathead catfish. Gizzard shad, threadfin shad, and Mississippi silverside are considered important forage species in the lake. Freshwater drum, carp, gar, buffalo, and river carpsucker make up the bulk of rough fishes in the lake.

The lake was stocked with striped bass in the late 1960s, and has proven to be an excellent habitat for them. It is one of the seven U.S. inland lakes where the striped bass reproduce naturally, instead of being farmed and released into the waters. The "stripers" feed on large schools of shad, and often reach sizes of 12 to 20 pounds (5 to 9 kg), with a lake record of 35.12 lb (15.93 kg) caught April 25, 1984. The town of Kingston, Oklahoma, celebrates the importance of striper fishing to the local area with the annual Kingston Striper Festival each September.

In 2004, a blue catfish was pulled from the lake weighing in at 121.5 pounds (55.1 kg), temporarily setting a world weight record for rod and reel caught catfish The fish was moved to a freshwater aquarium in Athens, Texas. More commonly, catfish in Lake Texoma weigh from 5 up to about 70 pounds (2 to 30 kg).

Historically, Texas and Oklahoma have not had a reciprocal fishing license agreement, which has posed a problem for anglers. Recent boundary resolutions have given Oklahoma jurisdiction over most of the fishing in Lake Texoma. An Oklahoma fishing license allows fishing most of the lake, up to within 400 yards (370 m) of Denison Dam. To fish the entire lake, a Lake Texoma fishing license is also available.

Normal elevation of the conservation pool varies from 615 to 619 ft National Geodetic Vertical Datum (NGVD) depending on the time of year. The flood control pool extends to elevation 645 ft NGVD. The lake has crested the dam's spillway at a height of 640 ft three times: once in 1957, again in 1990, and most recently on July 7, 2007. The lake's highest elevation was recorded on May 6, 1990 at 644.76 feet.

• Streambed Elevation: 505.00 feet. 
•  Top of Dam Elevation: 670.00 feet. 
• All storages based on a contributing drainage area of 33,783 square miles. 
• Total drainage area for the lake is 39,719 square miles (including upstream projects).
•  Longitude: 96° 34' 20" Latitude: 33° 49' 5"