Ypacaraí Lake is a major body of water located in Paraguay, about 50 kilometres (31 mi) east of the capital, Asunción. The lake lies in the western part of the Asunción-Sapucai-Villarrica graben, a tectonic depression from the Mesozoic Era, and drains to the northwest through the Salado River into the Paraguay River. It is surrounded by three cities: Areguá, Ypacaraí, and San Bernardino, the last two being located on its shore. It is one of Paraguay's two main lakes, providing water for drinking and irrigation, and is also the site of many leisure activities.

Areguá is a creative city and the capital of Central Department in Paraguay. It is known for its production of strawberry products, pottery, colonial architecture and historic cobblestone streets.