The National Capital Authority granted approval to Canberra Aqua Park to operate on the lake between November and February for the next three years, finishing in 2023.

After a successful trial last summer, which saw 16,000 people visit the park according to the proponents, the company lodged an application to become a more permanent fixture.

The 1400-square-metre inflatable structure will begin to be installed from November 1 and will open to the public on November 14.

The park will operate until January 31 and will be dismantled over the following two weeks.

It will then reappear in November 2021 and 2022.

The aqua park will be located in the same position it was during last summer's trial, at the Tarcoola Reach swimming area adjacent to Black Mountain Peninsula.

The inflatable structure is anchored down with 160 concrete sleepers, each weighing 75 kilograms, and can be moved slightly to accommodate changes in lake water levels.

Three shipping containers will also be placed on nearby land to serve as office and storage space for staff associated with the park.

Community consultation on the project recently concluded and of the 17 submissions received, 15 were in favour of the park returning for the next three summers while two opposed the application.

Submissions opposed to the aqua park claimed the out of the ordinary weather conditions last summer, primarily due to the bushfires and smoke, meant that another trial was needed to properly gauge how the park interacted with other lake users.

Opponents said the park would interfere with regular events hosted in the area such as the ACT Triathlon, activities of the Canberra Bilbys and rowing, among other casual users.

However, the NCA determined that even during optimal days during the trial, when other groups were using the lake, that the park did not interfere with those groups.

The NCA committed to monitoring the activities of the aqua park over the three year period.

Heritage concerns were also raised but the NCA decided that, due to the lack of motorised components, the fact it is a temporary fixture and that many other recreational activities are conducted on the lake, it did not clash with heritage considerations.

The NCA also confirmed there was no plan for the park to be relocated to West Basin at any point during the three year period.

Comments raised during consultation in favour of the park being approved included the activation of the lake, the fact testing had shown the park had no adverse impacts on water quality and the potential to increase tourism.

The proponents estimated more than 15,000 people would again visit the park during the upcoming season.

Consultation also found that previous visitors reported the park had been well run and patrons felt safe while using it.