Research in the field of sediment geochemistry suggests potential linkages between catchment processes (land use), internal phosphorus (P) loading and lake water quality, but evidence is still poorly quantified due to a limited amount of data. Here we address the issues based on a comprehensive data set from 27 lakes in southern Finland. Specifically, we aimed at: 1) elucidating factors behind spatial variations in sediment geochemistry; 2) assessing the impact of diagenetic transformation on sediment P regeneration across lakes based on the changes in the vertical distribution of sediment components; 3) exploring the role of the sediment P forms in internal P loading (IL), and 4) determining the impact of IL on lake water quality. The relationship between sediment P concentration and field area percentage (FA%) was statistically significant in (mainly eutrophic) lakes with catchments that included more than 10 % of fields. We found that sediment iron-bound P (Fe-P) increased with increasing FA%, which agrees with the high expected losses from the cultivated areas. Additionally, populated areas increased the pool of sediment Fe-P. Internal P loading was significantly positively related to both sediment Fe-P and sediment organic P (Org-P). However, Org-P was not significant (as the third predictor) in models that had a trophic state variable as the first predictor and Fe-P as the second predictor. Further, the vertical profiles of sediment components indicated a role of diagenetic transformations in the long-term sediment P release, especially in lakes with deeper maximum depth and longer water residence time. Finally, IL was significantly positively correlated to water quality variables including phytoplankton biomass, its proportion of cyanobacteria, chlorophyll a concentration and trophic state index. Our findings suggest that reduction of P losses from the field and populated areas will decrease internal P loads and increase water quality through a reduced pool of Fe-P.