Waterville offers a number of recreational activities. It is located in the middle of the Sakatah State Trail, a paved bike trail that runs between Faribault and Mankato. There are a number of local lakes that provide good fishing, boating and swimming.
Waterville also has an abundant number of campgrounds, including Sakatah State Trail, as well as a number of privately owned establishments that offer both tenting sites and cabins. For those who prefer the comfort of a motel, the local motel has recently been redecorated and sits on the edge of beautiful Lake Sakatah.