Lake Urmia, a hypersaline lake in northwestern Iran, is under threat of drying up. The high importance of the lake's watershed for human life demands a comprehensive monitoring of the watershed's behavior. Spaceborne sensors provide a number of novel ways to monitor the hydrological cycle and its interannual changes. The use of GRACE gravity data makes it possible to determine continental water storage changes and to assess the water budget on monthly to multi-annual time scales. We use satellite altimetry data from ENVISAT and CryoSat-2 to monitor the lake water level. Moreover, we employ optical satellite imagery to determine the surface water extent of the lake repeatedly and at an appropriate time interval.