The Colorado Wildlife Commission has designated 20 miles of streams in Grand County as "Gold Medal" trout streams. The stretch of the upper Colorado River between the Fraser River (near Granby) to the confluence with Troublesome Creek (near Kremmling) offers some of the finest brown and rainbow fishing in the West.

The Fraser River begins on the west side of Berthoud Pass and flows north through Winter Park, Fraser and Tabernash, joining the Colorado River at Granby. Many smaller streams flow into the Fraser River before it goes into the canyon below Tabernash. The river through the canyon is classified as Wild Trout Water. It has a good population of wild rainbows, browns, brookies, and the occasional cutthroat. There is public fishing in the town of Fraser upstream to the bottom of Berthoud Pass with only a small amount of private property.

There are also boating and fishing opportunities in the Tri-Lakes (Lake Granby, Shadow Mountain Lake and Grand Lake) and Williams Fork Reservoir areas.