Climate change is reducing winter ice cover on lakes; yet, the full societal and environmental consequences of this ice loss are poorly understood. The socioeconomic implications of declining ice include diminished access to ice-based cultural activities, safety concerns in traversing ice, changes in fisheries, increases in shoreline erosion, and declines in water storage. Longer ice-free seasons allow more time and capacity for water to warm, threatening water quality and biodiversity. Food webs likely will reorganize, with constrained availability of ice-associated and cold-water niches, and ice loss will affect the nature, magnitude, and timing of greenhouse gas emissions. Examining these rapidly emerging changes will generate more-complete models of lake dynamics, and transdisciplinary collaborations will facilitate translation to effective management and sustainability.