Detailed complex lithological and palaeomagnetic studies of Late Weichselian varved clays of an ancient periglacial lake carried out in the valley of the Ust-Pjalka River in the South Eastern Kola Peninsula (66.3° N, 39° E). It is shown that the lake-glacial deposits are typical turbidites and the sediments of the proximal and distal zone differ greatly. A sections of these deposits was taken from the profile along the ancient periglacial lake. It has been found that the structure of the proximal zone varves simplifies both in a distal direction and laterally. Common laws of these changes associated with the character of turbidity currents have been discovered. The varves of the proximal zone are reduced, while the distal zone sections are continuous and include more than 600 varves. From the results it follows that the varved clays of the proximal zone can hardly be used for the varvometric method and for studying palaeosecular geomagnetic variations. The informative distal varved clays show geomagnetic variations of declination with an amplitude over 80°. The palaeomagnetic data show that the sediments were accumulated in the Middle Dryas–Early Alleröd.