Vertical profiles of temperature, salinity and dissolved oxygen in Crater Lake, a caldera lake in the Oregon Cascade Range that receives hydrothermal inputs of heat and salt, were simulated with a 1-dimensional model. Twelve Global Circulation Models and two Representative Concentration Pathways (RCPs) were used to develop boundary conditions from 1950 to 2099. The model simulated the ventilation of deep water initiated by reverse stratification and subsequent thermobaric instability. All models predicted a reduction in the frequency of deep ventilation events, from an ensemble median frequency of 5.4 winters decade−1 during 1950–2005 to 4.3 (RCP4.5) or 2.5 (RCP8.5) winters decade−1 during 2045–2099. Favorable conditions for thermobaric instability-induced mixing currently occur infrequently and will become rare in the future. The salinity gradient resulting from hydrothermal inputs presents an additional barrier to thermobaric instability that will continue through 2099. A redistribution of salt to the deep lake may prevent ventilation all the way to the bottom in the future. Hypolimnetic dissolved oxygen percent saturation remained above 75% within the 21st century, consistent with oligotrophy and very small oxygen demands. The rate of change in all variables accelerated approaching 2099, coincident with elimination of winter reverse stratification. Historically, about half of the hydrothermal heat added to Crater Lake has been vented to the atmosphere. In the RCP8.5 scenario, the hydrothermal heat will cease to be vented to the atmosphere by the end of the 21st century, and then the temperature of the deep waters will increase rapidly.