The Mátra is relatively rich in water. The springs and their water discharge depend on the geological structure of the mountains and the given conditions of precipitation. The stratovolcanic makeup of the mountain range and the low permeability of andesite that constitutes its main mass help precipitation come to the surface in the form of springs. Several springs broke out along the fault lines in the higher regions where precipitation is more frequent, and more springs can be found here than in the lower elevations of the southern slopes that have less precipitation. The mineral water springs near Parád, locally referred to as 'csevice' waters, are consequences of the post-volcanic effects that exist even today.
The only waterfall in the Mátra, in Ilona-völgy (Ilona Valley), pours down deep from a height of 8 metres.
The lakes of the mountain range are of no real significance. Most of the former natural standing waters have almost completely turned into marshlands. The Pisztrángos-tó (Trout Lake), Kõris-mocsár (Kõris Marshland), Fekete-tó (Black Lake), Sás-tó (Sedge Lake) and Szent Anna-tó (Saint Anna Lake) are remnants of the past. The artificial reservoires have a larger water surface and, thus, a greater impact on their environment (reservoires at Csórrét, Köszörû-völgy and Hasznos).