To better understand the seasonal variation characteristics and trend of water quality in Lake Yilong, we monitored water quality parameters and measured nutrients, including the water temperature (WT), Chlorophyll-a (Chl-a), dissolved oxygen (DO) and pH from September 2016 to May 2020, total nitrogen (TN) and total phosphorus (TP) from October 2016 to August 2018. The results showed that the lake water was well mixed, resulting in no significant thermal stratification. The DO content was decreased in the northwest part of the lake during September and October, resulting in a hypoxic condition. It also varied at different locations of the lake and showed a high heterogeneity and seasonal variability. The Chl-a concentration in Lake Yilong demonstrated seasonal and spatial changes. It was maximum at the center and southwest area of the lake in January. However, in the northwest part of the lake, the maximum value appeared in September and October. The content of TN in the rainy season increased by 75% compared with that in dry season and TP content show a downward trend (from 0.11 mg/L to 0.05 mg/L). The comprehensive nutrition index evaluation shows that the water quality of Lake Yilong in 2016 was middle eutrophic (TLI = 60.56), and that in 2017 (TLI = 56.05) and 2018 (TLI = 56.38) was weak eutrophic, showing that the nutritional status has improved. TN remained at a high level (2.15 ± 0.48 mg/L), water quality needs further improvement. Based on our monitoring and analysis, it is recommended that human activities in the watershed of the lake should be constrained and managed carefully to maintain the water quality of the lake and adopt effective water quality protection and ecological restoration strategies and measures to promote continuous improvement of water quality, for a sustainable social development.