From the Two Medicine Lake Campground and general store area there are two major trails leading into the backcountry: North Shore Trail and South Shore Trail. They meet at the top of the lake before branching off to many other day hiking and backpacking destinations, so combining the two for a full loop around the lake is a good option.
From the day parking lot inside Two Medicine Campground, it is a short walk to the North Shore Trailhead at the bridge across Two Medicine Creek. The North Shore Trail is pretty flat the entire way and, except for some open areas near the start, does not offer many views of the lake or surrounding mountains. However, the wildflowers can be a beautiful sight depending on the season.
After the junction with the South Shore Trail, the route passes by the west end boat dock (a nice area to hang by the creek or swim in the lake) and starts to follow the south bank of the lake. This side of the loop requires a bit more climbing, but the views of the lake are spectacular. A suspension bridge crosses Paradise Creek, with it’s marvelous cascades and interesting angled slabs of rock. The South Shore Trail passes several small ponds, which are good moose habitat, before reaching the trailhead near the Two Medicine Lake boat docks. Completing the loop requires walking along the road between the dock parking area and the campground (about 0.7 mile).