Beaver is located in the Panhandle region of Oklahoma in Beaver County along U.S. Highway 270/SR 23 on the banks of the Beaver River. It is south of Beaver Dunes State Park and northeast of Guymon, Optima Lake and Optima National Wildlife Refuge.

The town is known for its hunting habitat in nearby Beaver River Wildlife Area. Hunters can take deer, dove, pheasant, quail and wild turkey, all of which are abundant.

An interesting tidbit is that famous Jones and Plummer Cattle Trail once passed along the town's Main Street. The coming of the railroads forced the closure of the trail but the Jones and Plummer Trail Museum remains featuring a bank, barber shop, general store and parlor.

For birders, the NWR is home for nesting interior least terns and piping plovers while the winter months offer glimpses of golden eagles.

The population estimate for July 1, 1998 was 12,034, an increase of 306 since 1990.