Isla Iguana is located in the Pacific Ocean, at 7o37'06” north latitude and 80o00'00” west longitude, at the southeastern tip of the Azuero Peninsula, about 5 km from the beaches of Mariabé, Distrito of Pedasí, Province of Los Santos, Republic of Panama.

Isla Iguana Wildlife Refuge protects a 58.5 hectare island covered by tropical dry forest, surrounded by more than 40 hectares of coral reefs, made up of 17 species of reef-building corals. The Wildlife Refugee has 651 ha and limits with Pablo Barrios Wildlife Refugee on the West and South. Its waters are inhabited by more than 347 species of fish and are visited by humpback whales to give birth and teach their young to dive. The coral reefs of the island, together with the mangroves of the mainland and the coastal outcrop, support artisanal fisheries on which more than 200 families in the area depend. In addition, it is an important nesting site for seabirds. The rocky slope East of Playita del Faro is an important nursery of Dog Snapper, Barred Snapper and a cleaning station that attracts fish and sharks.