"Hazard Lake," located in Kluane National Park, the Yukon, is an ice-dammed lake formed in 1966 by the surge of the Steele Glacier. Since 1975 it has drained annually by means of a subglacial tunnel. During July 1979, observations were made of lake processes before drainage and of sections described in the lake bottom after drainage. Three facies associations are believed to represent prelake, stable lake, and annual draining phases. Gravel commonly found at the base of sections represents deposition in a braided fluvial system prior to 1966. Lake sediments deposited between 1966 and 1975 are dominantly graded laminated silt deposited by turbid underflow from the major inflow stream. Lamination is probably caused by diurnal underflow events or daily variation in strength of underflow. No "winter" clay component of varved sediments is observed. During drainage a regressive sequence is deposited as the lake level drops, with sand-dominated sediments overlapping laminated silt where the main inflow stream enters the lake. This is followed by local fluvial deposition along the course of the reestablished stream. During filling a transgressive sequence is deposited as the lake level rises. Sand-dominated deltaic sedimentation is followed by deposition from underflow, resulting in laminated and massive silt and clay. These fine-grained facies separate sand facies and demark individual filling events but are easily eroded. Thus it is not possible to identify the effects of each individual drainage–filling cycle in the sediments. After drainage the lake remains empty until the next melt season, during which time a braided stream is established in the lake basin, depositing sands and gravels and eroding lake sediments.