The glacier is situated in Patagonia and is the only glacier from the region which is not retreating, even more, it's increasing in size, despite of the effects of global warming. It was named after Francisco Moreno, who studied the region in the 19th century. It has a length of more than 30 kilometers and it is the third largest source of fresh water in the world.

Large pieces of ice break and plum in Lake Argentino on average about every four to five years. The last rupture was in July 2008 and the first one in 1917, taking with it an ancient forest of arrayán trees.

The 250 km² (97 sq miles) ice formation is one of the most important tourist attractions in the Argentine Patagonia. Daily tours are available from El Calafate and a visitor centre at the site offers different circuits: mini-trekking (about an hour and a half) and a five hour tour.