Molly's Falls Pond is a reservoir located just 14.8 miles from Barre, VT in the rural town of Cabot in north-central Vermont.

Molly's Falls Pond property consists of 1064 acres including the 411-acre pond. U.S. Route 2 traverses the northern edge of the property and there is a dam at the western end of the reservoir that is owned by Green Mountain Power Company. A Vermont Fish and Wildlife Access Area at the northern end of the property includes a concrete ramp for trailer boat access to the pond and two fishing platforms for shore fishing.

This 411-acre lake is largely undeveloped and is an excellent spot for swimming, boating and fishing. Anglers will find a variety of fish including rainbow trout, brown trout, northern pike, pickerel, smallmouth bass and yellow perch here. Camping and picnicking along the shores has been a long tradition.

There is a wetland along the southern shore that is a spruce-fir wetland that is not ecologically state-significant. The shoreline provides access for wildlife such as moose, deer and shoreline nesting habitat for waterfowl. The Common Loon has been on the pond for a number of years. There is important ecological linkage with the mostly forested habitat for wildlife between the pond and Groton State Forest to the south.

There are 8 unofficial, remote campsites at the park. They are available on a first-come, first-served basis. There is a boat launch with 2 fishing platforms, plus a nearby port-o-let. Swimming is allowed off the shoreline, but is restricted at the boat launch. Additionally, there are 10 remote picnic sites.

Native Americans called the pond, now known as Molly's Falls Pond, Mali Bowk, and the falls Mali Pan-jah-lok Molly's Waterfall after an Indian maiden who lived in this area. Mollys Falls Dam Pond is the name of the reservoir created when the dam, constructed in the 1920s by Mollys Falls Electric, Light and Power Company was built on Mollys Brook between the pond and the falls.

The reservoir flooded many acres of farmland called Petersville, a community near South Cabot, and caused the relocation of the road between Danville and Marshfield. The dam was finished in the fall of 1927, and the power plant it served in Marshfield was the only plant operating for days during the devastating Flood of 1927.

In 2012 the Vermont Land Trust purchased the property from Green Mountain Power, with plans to eventually sell it to the state. Green Mountain Power retained 23 acres that includes a hydroelectric dam, buildings for the hydropower facility and spillways on the reservoir.

The Department of Forests, Parks and Recreation bought the property from the Vermont Land Trust with money from the federal Forest Legacy Program.

The dam structures consist of a 1,100-ft-long, 48-ft-high earthen embankment with a 260-ft-long concrete chute-type spillway structure at the left abutment a concrete control structure that serves as an emergency spillway and an intake structure with a 6-ft diameter penstock. The dam impounds a 400-acre flood control/hydroelectric/recreation reservoir.