Llanquihue Lake noun1 •A lake in Llanquihue province and Osorno province, Los Lagos region, the second-largest lake in Chile.The 36 miles from Petrohué to Puerto Varas can be covered direct by motor coach, but a steamer on Lake Llanquihué [sic] provides an alternative from Ensenada, 11 miles from Petrohué. — 1949