Balsam Lake is a village in, and the county seat of, Polk County, Wisconsin, United States. The population was 1,009 at the 2010 census. The village is located within the Town of Balsam Lake.

Balsam Lake covers over 65 mi (105 km) of shoreline and covering a surface area of 2,054 acre (831 ha) and is the biggest lake in Polk County, Wisconsin. Public access to the lake by boat ramps are on the northwest, southwest and East Balsam. It is fed by natural springs and seepage from wetlands on the southwestern, northeastern and eastern shores. Maximum depth is 37 ft (11 m).