Numerous rivers, lakes and other water features have suffered significant alterations as a result of human economic activity. As a result, hydrometric, hydrological, biological, ecological conditions, as well as morphometric elements of these objects were violated. In this regard, Lake Sevan and its basin might be used as a well-known example. There has never been any instance in the history of limnology where a lake’s level was artificially lowered by 18 meters over 3 to 4 decades (1930–1970), and by another 2 meters at the end of the 20th century (1990–2000). Additionally, the lake’s water volume dropped from 58 billion m3 to 32 billion m3. The Sevan problem first surfaced in the late 19th and early 20th centuries and is still a problem today. However, it has many meanings/soundings at different times. Based on this, we usually divided the entire study period into several stages. It should be noted that the ecosystem has suffered irreparable losses as a result of the use of the Lake Sevan resources, inadequate water resource management, and both positive and negative effects of these factors. We disagree with the assertions of many experts that problems can only be prevented or solved by raising the lake level. Therefore, extensive actions must be taken in the Sevan basin management area, regardless of the lake’s level.