Lake Ashinoko (芦ノ湖, Ashinoko) was formed in the caldera of Mount Hakone after the volcano's last eruption 3000 years ago. Today, the lake with Mount Fuji in the background is the symbol of Hakone. The lake's shores are mostly undeveloped except for small towns in the east and north and a couple of lakeside resort hotels. The best views of the lake in combination with Mount Fuji can be enjoyed from Moto-Hakone (a few steps south from the sightseeing boat pier), from the Hakone Detached Palace Garden and from the sightseeing boats cruising the lake.

Hakone Shrine (箱根神社, Hakone Jinja) stands at the foot of Mount Hakone along the shores of Lake Ashi. The shrine buildings are hidden in the dense forest, but are well advertised by its huge torii gates, one standing prominently in the lake and two others over the main street of Moto-Hakone. A path leads from the torii gate in Lake Ashi up a series of steps flanked by lanterns through the forest to the main building of the shrine, which sits peacefully among the tall trees. The shrine is beautiful throughout the year, and is particularly breathtaking when shrouded in mist. A second shrine, Mototsumiya ("original shrine") stands at the summit of Komagatake, one of Mount Hakone's multiple peaks. It is accessible by the Hakone Komagatake Ropeway from Hakone-en or via hiking trails.

The Hakone Ropeway (箱根ロ－プウエイ) is part of the Hakone Round Course, a popular way to visit Hakone. It connects Sounzan Station (at the terminus of the Hakone Tozan Cablecar) with Togendai Station (at the shore of Lake Ashinoko) and stops at Owakudani and Ubako stations on the way. The ropeway is fully covered by the Hakone Free Pass. The ropeway's gondolas depart every minute and fit around ten people each. Traveling the full length of the ropeway takes around 30 minutes. Along the journey, passengers can enjoy views of the active, sulfuric hot spring sources of the Owakudani Valley between Sounzan and Owakudani and of Lake Ashinoko and Mount Fuji between Owakudani and Togendai if visibility allows. A transfer of gondolas is necessary at Owakudani, but no transfer is needed at Ubako. Admission 1480 yen (one way), covered by the Hakone Free Pass

The Hakone Open-Air Museum is the first open-air art museum in Japan, built in Hakone with the aim of harmonizing nature and art. Art works are placed everywhere on the vast site of about 70,000 square meters, surrounded by beautiful trees, grass, and moutains. It can be enjoyed by a wide range of ages, from families with children to adults traveling alone.