Paleoecological and modern studies at Priyatnoye Lake, which is located within an intermontane depression in the interior of northeastern Siberia, indicate a similar paleovegetation record as has been documented for nearby mountain valleys, but a history of basin stability and instability that is uncharacteristic of the valley lakes. Analyses of a 385-cm-long core from the western basin of Priyatnoye Lake shows that sediment accumulation began in late Marine Oxygen Isotope Stage 3 (MIS 3), followed by a hiatus during MIS 2, and then continuous accumulation over the past ca. 14,000 cal yr BP. The eastern basin of the lake has a sediment thickness of ~35 cm, suggesting that it intermittently contained water and/or is younger than the western basin. A drop in lake levels between AD 2005 and AD 2009 resulted in the formation of two distinct lakes. This change was caused by the melting of underlying ice wedges and the formation of sinkholes through which the lake water drained. Although the northern coastal lowlands have been the geographic focus of permafrost global warming research, the Priyatnoye study draws attention to the intermontane depressions in northeastern Siberia. While less extensive, these depressions contain organic-rich deposits, are underlain by permafrost, and have the potential to affect future carbon budgets as global temperatures rise and permafrost melts.