The Earth's surface is predominantly covered by water, with fresh water comprising a mere 3%. Given its vital importance to all known living organisms, understanding water quality parameters and microbial populations in reservoirs is crucial. This study aimed to assess the physicochemical parameters and identify fungi in reservoir water across various communities in Benin City, Edo State. Water samples were collected from different locations in Benin City, Edo State. The samples were then taken to the laboratory and cultured on potato dextrose agar using the pour plate technique. The pure culture of fungal isolates were identified phenotypically. The antifungal susceptibility profiles of isolates were determined. The results for physiochemical analysis of the reservoir water sample showed that the pH values were within the range of 6.63 - 7.59, electrical conductivity ranged from 13 - 159 µS/cm. The temperature range gotten from this study is 25.3 – 29.4 oC. Total suspended solid varied from 0.59 – 0.98 g/l. Biochemical oxygen demand ranged from 0.02 – 0.07. The alkalinity ranged from 0.12 to 0.5 g/l. Manganese was present and it ranged from 0.01 to 0.15 mg/l. The total fungal count was shown a ranged from 0.025 x 103 - 2.3 x 103 cfu/ml. The identified fungal isolates from the various samples of water were Penicilium chrysogenum, Yeast, Rhizopus stolonifera, Aspergillus flavus and Aspergilus niger. The isolate with the lowest percentage distribution was Penicilium chrysogenum, asides Penicilium chrysogenum the rest of the isolates were found in all the sampled locations. The pathogenicity result showed all isolates were positive to Gamma Haemolysis and Lipase production. All isolates showed susceptibility to Nystatin but showed varying resistance to Vericonazole with penicillin showing the highest susceptibility. Recent discoveries on fungi requiring special attention include the presence of opportunistic and emerging pathogens in water sources.