The tragedy occurred when the young man entered the lake at Yarrow Valley Country Park, off Birkacre Road, shortly after 2pm on Monday (August 1).
Emergency services were called after he was spotted struggling in the water.
But despite the best efforts of rescuers, the young man – who was later named locally as 26-year-old Josh Halliday – could not be saved.
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Lancashire Police said there were no suspicious circumstances surrounding Mr Halliday's death and a file was being prepared for the coroner.
“His next of kin have been informed and our thoughts are with his family,” a spokesman for the force added.
“We are appealing for witnesses or anyone who was in the area and might have information.”
If you have any information that may help police, call 101 quoting log number 728 of August 1, 2022.