Jag Mandir Palace also known as Lake Garden Palace is located on an island at the southern end of Lake Pichola. The construction of Jag Mandir was started in 1551 by Maharana Amar Singh, continued by Maharana Karan Singh (1620-1628) and finally completed by Maharana Jagat Singh I (1628-1652). Jag Mandir, the three palatial structured built of yellow sandstone and marble slabs, is beautifully adorned with coloured stones and exquisite mughal paintings. Jag Mandir island is well maintained with beautiful fountains and at the entrance, there are carved statues of elephants that looks like guarding the island. Within the palace, there is a the temple dedicated to the Lord Jagdish. Another attraction here, is the Gul Mahal, made in Islamic style architecture with three circular domed chambers, one above the other. Inside Gul Mahal, there is a small mosque built in memory of saint Madar. 

Jag Mandir has gained historical importance, when Prince Khurram (later Shah Jahan) was given refuge here when he was in revolt against his father, Mughal Emperor Jahangir. It is said that later when Shahjahan built Taj Mahal he took many ideas especially the pieta dura work from Jag Mandir palace. Now the island is the venue for hosting grand events including weddings and royal parties.