One of the basic winter festivals are Ice festival, which usually held in end of February or beginning of March, Khuvsgul province at Lake Khuvsgul.

The festival first held 15 years ago. Lake Khuvsgul is located in northern Mongolia at the far southern edge of the Siberian forest near the border with Russia. Aged over two million years, this ancient lake is 260 metres deep, 130 kilometres long and holds 70 per cent of Mongolia's fresh water. Ice festival organized yearly on frozen Khuvsgul Lake.The event involves ice-skating and horse sleigh races, displays of ice sculptures, shaman ceremonies and visits by reindeer herders who make their way south to the festival from their northern camps.