Better understanding of the complex mechanical properties of ice is the foundation to predict the ice fail process and avoid potential ice threats. In the present study, uniaxial compressive strength and fracture mode of natural lake ice are investigated over moderate strain-rate range of 0.4–10 s⁻¹ at −5 °C and −10 °C. The digital speckle correlation method (DSCM) is used for deformation measurement through constructing artificial speckle on ice sample surface in advance, and two dynamic load cells are employed to measure the dynamic load for monitoring the equilibrium of two ends’ forces under high-speed loading. The relationships between uniaxial compressive strength and strain-rate, temperature, loading direction, and air porosity are investigated, and the fracture mode of ice at moderate rates is also discussed. The experimental results show that there exists a significant difference between true strain-rate and nominal strain-rate derived from actuator displacement under dynamic loading conditions. Over the employed strain-rate range, the dynamic uniaxial compressive strength of lake ice shows positive strain-rate sensitivity and decreases with increasing temperature. Ice obtains greater strength values when it is with lower air porosity and loaded vertically. The fracture mode of ice seems to be a combination of splitting failure and crushing failure.