Lands around the lake are managed by the Corps of Engineers to preserve their natural value. Land management practices such as prairie restoration, prescribed burning and tree planting help conserve soil and benefit wildlife.

Kanopolis Lake is one unit in a system of lakes in the Smoky Hill and Kansas River Basins. Kanopolis operates in tandem with upstream Cedar Bluff Reservoir, a Bureau of Reclamation project, to regulate flows in the Smoky Hill River Basin.

A portion of the lake storage is used to provide water to Post Rock Rural Water District, which in turn, supplies many Kansas farms and communities.