Lake Vestmannsvatn has an area of 2,5 kmē. It is 10 m deep and is situated at 26 m above sea level just south of the parsonage Grenjadarstadur in the mouth of the valley Reykjadalur. River Reykjadalsa feeds it and its discharge, Eyvindarlaekur, tributes to the fine salmon river Laxa. It is divided into two fishing areas: a) From a cove to the west of the headland Djuphofdi, along the western and northern sides to the mouth of the discharge and b) From the Djuphofdi headland to the east to the mouth of river Reykjadalsa, where there is some hope of the salmons biting.

The catch consists otherwise of lake char and brown trout. The lake is accessible by car from the south and the walking distance to its northern side from the main road is about 500m. Accommodations are available at some farms and the summer hotel Laugar (school centre).

The distance from the capital is about 456 km by the Whale Bay tunnel and 28 from Husavik.