Lake Bolac is a town in the Western District region of Victoria, Australia, in the Rural City of Ararat, 91 kilometres (57 mi) west of Ballarat. At the 2006 census, Lake Bolac and the surrounding area had a population of 470. The town is on the shores of Lake Bolac, a freshwater lake popular with anglers. The Glenelg Highway passes through the town. Lake Bolac Post Office opened on 1 November 1864.
Lake Bolac has a Prep to year 12 school. There is a caravan park on the lake that is popular in summer with holidaying families.
The football team is combined with nearby town Wickliffe known as the Magpies and plays in the Mininera & District Football League.
Golfers play at the course of the Lake Bolac Golf Club on Mortlake Road.