Fernilee Reservoir is a drinking-water reservoir in the Peak District National Park, within the county of Derbyshire and very close to the boundary with Cheshire. The reservoir was the first of two reservoirs built in the Goyt Valley, the other being Errwood Reservoir. It was constructed by the Stockport Water Corporation at a cost of £480,000, with work being completed in 1938. It is currently owned and operated by United Utilities. The reservoir provides drinking water for the town of Stockport and its surrounding areas, and it holds 4,940 million litres of water.

Fernilee is a wild natural water, fishing is for EFFC Club members only, with all fish being natural stock. Spinning Only. The reservoir is known to hold brown trout, rainbow trout (from Errwood) and perch.