Lakes are integrators of environmental change occurring at both the regional and global scale. They present a wide range of behavior on a variety of timescales (cyclic and secular) depending on their morphology and climate conditions. Lakes play a crucial role in retaining and stocking water, and because of the significant global environmental changes occurring at several anthropocentric levels, the necessity to monitor all morphodynamic characteristics [e.g., water level, surface (water contour) and volume] has increased substantially. Satellite altimetry and imagery are now widely used together to calculate lake and reservoir water storage changes worldwide. However, strategies and algorithms to calculate these characteristics are not straightforward, and specific approaches need to be developed. We present a review of some of these methodologies by using lakes over the Tibetan Plateau to illustrate some critical aspects and issues (technical and scientific) linked to the observation of climate change impact on surface waters from remote sensing data. Many authors have measured water variation using the limited remote sensing measurements available over short time periods, even though the time series are probably too short to directly link these results with climate change. Indeed, there are many processes and factors, like the influence of lake morphology, that are beyond observation and are still uncertain. The time response for lakes to reach a new state of equilibrium is a key aspect that is often neglected in current literature. Observations over a long period of time, including maintaining a constellation of comprehensive and complementary satellite missions with service continuity over decades, are therefore necessary especially when the ground gauge network is too limited. In addition, the design of future satellite missions with new instrumental concepts (e.g., SAR, SARin, Ka band altimetry, Ka interferometry) will also be suitable for complete monitoring of continental waters.