Little Squam Lake is a 408-acre (1.65 km2) water body located in Grafton County in the Lakes Region of central New Hampshire, United States, in the towns of Holderness and Ashland. The lake connects upstream via a short channel to Squam Lake in Holderness. The two lakes are maintained at a common water level by a dam located one mile downstream from the outlet of Little Squam Lake, on the Squam River, a tributary of the Pemigewasset River.