Canyon Ferry Reservoir has risen to prominence as one of Montana's premier recreation destinations, owing to its convenient location near Helena, Great Falls, and Butte. Spanning 25 miles, the reservoir boasts 24 Bureau of Reclamation maintained recreation sites dotted around its perimeter. Easy access to the reservoir is available from US Highway 12 east of Helena or just north of Townsend.

Visitors to Canyon Ferry can partake in a wide array of recreational activities, including boating, year-round fishing for trout and walleye, camping, sightseeing, picnicking, hunting, waterskiing, nature study, and swimming. All campsites offer boat access, and additional public boat launch areas can be found near the dam on the north end and near Townsend on the south end.

The area surrounding Canyon Ferry Reservoir also offers various amenities and services, such as a Sapphire mine, laundromat, dining options, entertainment venues, cabins, beaches, houseboats, showers, and grocery stores, ensuring visitors have everything they need for a comfortable and enjoyable stay.

Notably, Canyon Ferry holds historical significance as part of Lewis and Clark's expedition. Sacagawea, the expedition's guide, recognized the white clay banks east of present-day Winston, Montana, on July 22. These banks held cultural significance for her people, who used the clay for pigment. Lewis and Clark set up nine campsites along the river from the south end of Canyon Ferry Reservoir to Toston Dam between July 21 and July 25. Their journals make mention of various landmarks along the way, including Onion Island, Crimson Bluffs, York's Island, Fine Bold Springs, and the Little Gates of the Mountains. Captain Lewis also noted the adjacent mountains—the Big Belts to the east and the Elkhorns to the west, now part of the Helena National Forest.