The absence of standardized, biology-based assessment criteria for lake ecosystems at the national level underscores the need for developing systematic and integrative phytoplankton-based evaluation tools. Phytoplankton are primary producers that regulate energy flow and nutrient cycling in lake ecosystems, and their rapid responses to environmental changes such as eutrophication, altered hydrodynamics, and seasonal fluctuations make them highly effective biological indicators. Multimetric indices (MMIs) offer a structured and integrative approach for capturing complex community level responses to environmental stressors, thereby enhancing the ecological relevance and management utility of biological assessment tools for lentic systems. This study presents the Lake Phytoplankton Assessment Index (LPAI), developed using long term ecological and water quality data from 90 lakes and reservoirs across South Korea. The LPAI comprises six ecologically meaningful metrics: total cell density (M2), cell density of flagellated algae (M10), cell density of harmful cyanobacteria (M17), cell density of eutrophic Chlorophyta (M18), relative abundance of saprophilous diatoms (M23), and relative abundance of eutraphentic diatoms (M25). Application of the LPAI demonstrated that lake health grades exhibited a broad and near-normal distribution across seasons, while summer assessments showed a marked increase in lower grade (C~E) lakes associated with elevated temperatures and cyanobacterial blooms. Conversely, winter assessments showed improved conditions due to reduced phytoplankton biomass and the dominance of low eutrophic diatom assemblages. Correlation analyses confirmed that the selected metrics captured distinct ecological gradients, particularly nutrient enrichment and organic matter driven turbidity, while PCA results indicated that the LPAI performed consistently across lake types without structural bias. Overall, the LPAI reliably reflects trophic conditions, harmful algal risks, and structural changes in phytoplankton communities, offering a scientifically grounded and management-relevant tool for evaluating the ecological health of Korean lakes and reservoirs.