Prokoško Lake sits on the southeast side of Vranica Mountain, at the foothill of the Nadkrstac Summit (2110 m) at 1485 m above sea level. The formation of the lake is associated with anthropogenic impacts in terms of disruption of drainage patterns located at the bottom of the lake basin, which were used for watering livestock. A 2007 ecision by the Assembly of the Central Bosnia Canton declared the lake basin a Nature Monument.
Prokoško Lake is the habitat of an endemic species: Triton (Triturus alpestris reiseri). It was discovered in 1891 by Sarajevo National Museum ontologyst Otmar Reiser.
The lake is surrounded by Katuns (shepherds' huts) built entirely of wood and timber.