Lake Vermilion is a shallow freshwater lake in northeastern Minnesota, United States. The Ojibwe originally called the lake Onamanii-zaaga'iganiing, which means “the evening sun tinting the water a reddish color”. French fur traders translated this to the Latin word Vermilion, which is a red pigment. Lake Vermilion is located between the towns of Tower on the east and Cook on the west, in the heart of Minnesota's Arrowhead Region at Vermilion Iron Range. The area was mined from the late 19th century until the 1960s, and the Soudan Mine operated just south of the lake.

The Lake Vermilion-Soudan Underground Mine State Park is a Minnesota state park at the site of the Soudan Underground Mine, on the south shore of Lake Vermilion, in the Vermilion Range (Minnesota). The mine is known as Minnesota's oldest, deepest, and richest iron mine. It formerly hosted the Soudan Underground Laboratory. As the Soudan Iron Mine, it has been designated a U.S. National Historic Landmark.