Lake Buchanan was formed by the construction of the Buchanan Dam by the Lower Colorado River Authority. The lake provides water supply for the region and hydroelectric power. Buchanan Dam was completed in 1939. Lake Buchanan was the first of the Texas Highland Lakes to be formed, it is also the largest.
The lake is named for Representative James P. Buchanan, who is credited with attaining the funding to build the lake and dam.
Lake Buchanan has been stocked with several species of fish, including largemouth bass, catfish, white bass, and striped bass. Lake Buchanan is a level-controlled reservoir and is not allowed to flood during periods of heavy rain.
The Lower Colorado River Authority maintains three parks on the lake: Black Rock Park, Cedar Point Recreation Area, and Canyon of the Eagles which provide boating access to the lake.