Peggys Cove is officially known as the Peggys Point Lighthouse which is one of the busiest tourist attractions in Nova Scotia. It is also the community's renowned lighthouse marks the eastern entrance of St. Margarets Bay.

This lighthouse is one of the most-photographed structures in Atlantic Canada. Canadian Coast Guard operates the Peggys Cove which has a classic red-and-white lighthouse. The light station is located on a wide granite outcrop at Peggys Point, immediately south of the village and its cove.