Lake Carl Blackwell was deeded to Oklahoma A&M College in 1954. Its 3,000 surface acres of water and 19,323 acres of land were to be used for agricultural research and recreation.

The lake was built in 1934, following a request by President Henry G. Bennett and the state board of agriculture to serve the campus as an independent water supply.

The name given to the lake by government officials honored Carl P. Blackwell, who had served as dean of the School of Agriculture and director of the Agricultural Experiment Station. Blackwell, an OAMC alum, had also served as the regional director of the federal Resettlement Administration and had launched the USDA Central Oklahoma Land Utilization Project, which provided funding to build the lake.

In addition to its many recreational benefits, the lake continues to provide water and generate electricity for OSU.