Visitors to Llyn Celyn near Bala are being urged to avoid contact with the water after a suspected blue-green algal bloom was identified.
Natural Resources Wales is investigating the suspected bloom and says officers will take water samples to assess the situation.
As a precaution, people are being advised to avoid entering the water in areas where algae or scums are visible.
Dog owners are also being urged to keep their pets out of the water.
Blue-green algae, also known as cyanobacteria, can sometimes produce toxins which may be harmful to people and animals. Not all blooms are toxic, but Natural Resources Wales says it is important to take precautions while investigations are continuing.
Partner organisations are also expected to install warning signs around Llyn Celyn to alert visitors to the potential risk.
People who believe they have spotted a blue-green algal bloom elsewhere can report it to Natural Resources Wales through its online reporting service or by calling its incident hotline on 03000 65 3000.
The advice will remain in place while samples from Llyn Celyn are assessed and the situation is investigated.