The reservoir was created by Hyatt Dam, constructed in 1923 by the local irrigation district to impound Keene Creek (nearby Howard Prairie Lake was created in 1958). The dam stands at the southern end of the reservoir, and was rehabilitated in 1960 by the current owner, the United States Bureau of Reclamation. The Talent Irrigation District operates the facility.
Water from Hyatt Reservoir, Little Hyatt Reservoir—further downstream on Keene Creek—and Howard Prairie Lake, a larger reservoir 3 miles (4.8 km) to the east, is carried by the Ashland Lateral Canal to Emigrant Lake, a storage reservoir near Ashland.
Hyatt Reservoir is stocked each year with young rainbow trout, some of which eventually reach 26 inches (51 cm) in length in the lake's favorable conditions. Sport fishing for largemouth Bass is also common, and the lake supports populations of Crappie and other fish. The 10mph speed limit on the lake makes it an ideal family lake for kayaks, canoes, float tubes and standup paddleboarding.
Rental Cabins were installed 2007 by Campers Cove Resort, LLC and are available to the public year around. Call 541-482-3331 with questions or to make your reservation.