Subglacial lakes require a thawed bed either now or in the past; thus, their presence and stability have implications for current and past basal conditions, ice dynamics, and climate. Here, we present the most extensive geophysical exploration to date of a subglacial lake near the geographic South Pole, including radar‐imaged stratigraphy, surface velocities, and englacial vertical velocities. We use a 1.5‐dimensional temperature model, optimized with our geophysical data set and nearby temperature measurements, to estimate past basal‐melt rates. The ice geometry, reflected bed‐echo power, surface and vertical velocities, and temperature model indicate that the ice‐bed interface is regionally thawed, contradicting prior studies. Together with an earlier active‐source seismic study, which showed a 32‐m deep lake underlain by 150 m of sediment, our results suggest that the lake has been thermodynamically stable through at least the last 120,000 years and possibly much longer, making it a promising prospective site for sediment coring.