Marked with green blazes, this 33-mile-long loop skirts completely around the lake. It is also used as a horse trail, which can make the trail a bit rough at times for hikers. This trail crosses the East Fork of the Little Miami River twice, so be aware of deep water along with additional creeks. See various native species such as cottontail rabbits, white-tailed deer, foxes, and an amazing diversity of birds. Listen for insect and frog sounds as you hike along the water.

Hikers, and horse riders, can access the trail from many points around the park, be sure to park in a legal parking space.  Mile 1 begins near the South Trailhead going east following the green blazes.  The Buckeye Trail joins the Perimeter Trail for a couple of sections.  There are 5 primitive overnight campsites (free with registration-contact park office). Mountain Bikes are not permitted on this trail. Water filtration devices can be used near Overnight 2 and 3 also at near lake access and creek crossing (seasonal running water access available at shelters/bathrooms).