The Lofoten Aquarium is located in Storvågen in Lofoten, approximately three kilometres from the Kabelvåg town centre, in proximity of the Lofoten Museum and Gallery Espolin. It is situated together with the fishermen's sheds and hotel, in a cove with a majestic view overlooking the fjord and the mountain Vågekallen. The building is located right by the sea, at the transitional point between land and water. Wharf warehouses, piers and ramps, which are all a part of the complex, extend from the granite rocks above the intertidal area and out to the fishing area. In 1989 the complex was completed and was designed by Blå strek arkitekter from Tromsø.

The building is a composite structure, but is mainly comprised of two parts. The main section is light and open and dominated by a large saddle roof. This section houses a restaurant and experience elements such as an aquarium and a waterfall with fish swimming below. The other section is a massive concrete structure and is designed like an arch that wedges into the building with the saddle roof. Originally it was lower-rising that it is today and had a flat roof, but it is now constructed so that it is taller. Located in this arched section are the main aquariums. This complex also comprises a couple smaller buildings which appear similar to boathouses and function respectively as exhibition galleries and storage rooms.