Karakol () is a salt lake in Shalkar District, Aktobe Region, Kazakhstan.
The lake lies to the north of Shalkar town, the district capital. The area near the lakeshore is used as a grazing ground for local cattle.
Karakol is an endorheic lake of the Shalkar Basin. It is located at an elevation of . Lake Tebez lies to the northeast and Zhamantuz to the south of the lake. The Bolgasyn river flows eastwards to the north of Karakol.
Karakol is long and wide. The central part of the lake is dotted with small islands. The shores are flat and swampy, especially on the western side. The lake fills yearly with rain and snow. Its water is salty.