Lake Lippe is a local recreation area where there are a variety of water sports and leisure opportunities such as sailing, surfing, pedal boating and fishing. There is a small beach at the kiosk on the north bank. There is also a barbecue area, a children's playground, sunbathing areas, a mountain bike course, a skate park and a mini golf course. Water skiing opportunities can be found in the adjacent Nesthauser See.
Lake Lippe is completely surrounded by mostly asphalted paths on which cycling and running are possible all year round. If the snow conditions are suitable, the Lippesee circuit is also suitable as a cross-country ski trail.
Water sports are possible on Lake Lippe. There are two sailing clubs on the lake, the Paderborn Yacht Club e.V. and the Segler-Verein Paderborn e.V., as well as a commercial sailing school.
In addition to its use as a local recreation area, the lake also produces high-quality gravel, which was deposited in layers up to 20 m thick during the last ice age at the transition from the Westphalian Bay to the Paderborn plateau, especially in the area of Lake Lippe. These river deposits come mainly from the Alme and the Beke, which flow into the Lippe above the Lippesee.