The Elk River Hiking Trail is located on the northwest side of Elk City Lake. The trail is a 15 mile point-to-point trail which can be accessed from two main trailheads. The Northeastern trailhead is located below the west end of the dam across from the Fish & Wildlife Office. The Southwestern trailhead can be reached from Highway 160 south of Elk City. There are also several gravel roads intersecting the trail which can be accessed from County Roads north of the lake.

The Elk River Hiking Trail offers panoramic views from the tops of the many limestone bluffs on the northwestern shores of Elk City Lake. The trail crosses several small streams and ravines and winds through narrow canyons and under rock overhangs. The trail has blue trail blazes and mile markers.