The hamlet of Half Moon Lake is on a picturesque crescent-shaped body of water located just north of Highway 629, approximately 13 kilometres southeast of Sherwood Park. The lake is about two kilometres long (end to end) and 250 metres wide with a maximum depth of 8.5 metres.

In the late 1950s, the land north of the lake was subdivided into residential lots, with the subdivision of the south side following soon after. Currently, the hamlet of Half Moon Lake is home to approximately 226 residents, who enjoy the quiet of rural life along with a strong sense of community. Each spring, the residents get together for a day of road side and lakeside clean-up, followed by a community BBQ.

Although the hamlet is surrounded by private land, visitors to Strathcona County will find the commercially run Half Moon Lake Resort at the south end of the lake, which provides access to the lake. The resort, open during the summer months, has campsites and a developed beach, for those looking for some summer water activities (non-powered boats). Repeated attempts have been made to stock the lake with fish, but the only species capable of survival through the winter in the lake is the tiny brook stickleback.