The aim of the present study was to evaluate the spatio-temporal variability of various physical and chemical parameters of water quality and to determine the trophic state of Lake Ardibo. Water samples were collected from October 2020 to September 2021 at three sampling stations in four different seasons. A total of 14 physico-chemical parameters, such as water temperature, pH, dissolved oxygen (DO), electrical conductivity, turbidity, alkalinity, Secchi-depth, nitrate, ammonia, silicon dioxide, soluble reactive phosphorus, total phosphorus, chloride, and fluoride were measured using standard methods. The results demonstrated that seasonal variation existed throughout the study period. Except for turbidity, the water quality of the lake varied significantly within the four seasons (ANOVA, p < 0.05). DO levels decreased significantly during the dry season following water mixing events. Chlorophyll-a measurements exhibit significant seasonal differences ranging from 0.58 μg L−1 in the main-rainy season to 8.44 μg L−1 in the post-rainy period, indicating a moderate algal biomass production. The overall category of Lake Ardibo was found to be under a mesotrophic state with medium biological productivity. A holistic lake basin approach management is suggested to maintain water quality and ecological processes and to improve the lake ecosystem services.