Little Ossipee Lake is at the center of the recreational offerings in the Waterboro and Lake Arrowhead region. Here you can go swimming, boating or fishing for brook trout, lake trout, landlocked salmon, perch and bass. You can also hike up Ossipee Mountain—the highest point of land in the area at 1,058 feet—and look out from the fire tower on the summit.
At the Waterboro Barrens woodland preserve, you may be able to spot some of the 11 species of rare butterflies and moths that have been documented here. You can also visit the town's parks, including: Friendship Park, which has picnic areas, a Little League field and horseshoe pits; the Gobeil Park Picnic Area, which has facilities for get-togethers and cookouts; and Ossipee Pines park, where you can walk along trails that cut across the pond onto islands. In the winter, you can go ice fishing at Gobeil Park.