In the present investigation, diversity of zooplankton was correlated with physico-chemical characteristics of a fresh water perennial lake, Shanthi Sagara at Davangere district, Karnataka, India. In order to assess its suitability for fish culture, the study was conducted for a period of one year from February 2019 to January 2020 in three seasons, like rainy, summer and winter. A total of 29 zooplankton species were identified qualitatively, which includes 13 species of rotifera, 6 species of cladocera, 8 species of copepoda and 2 species of ostracoda. The mean population of each zooplankton groups from all the seasons were recorded in the following order, rotifers (988 o/l) >cladocerans (967 o/l) >copepoda (820 o/l) >ostracoda (317 ind./l). In this study, zooplankton productivity was maximum in summer. The population of zooplankton was positively correlated with various physico-chemical parameters, such as water temperature, pH, salinity, dissolved oxygen, total dissolved solids and electrical conductivity of the lake water. Species diversity indices were correlated with different zooplankton groups in various seasons. Since zooplankton, both in number of species and population was abundant in the Shanthi Sagara Lake, there is possibility for continuous utilization of this water body for inland aquaculture.