The distribution of major, trace and rare earth elements in bulk, different particle sized and strongly magnetic fractions of Lake Nasser sediments has been investigated. The elements were determined using neutron activation analysis. Statistical data processing indicates good correlation between Th, La and Ce, suggesting that accessory minerals such as monazite may play a role in controlling rare earth elements (REE) in the lake sediments. The highly significant relationship between Al and light-REE accounts for the capability of clay minerals to host these elements. In addition, principle components analysis reflects that there are only four factors which could explain about 90% of the total variance in the lake sediments. The results show also that Al, Th and REE have low contents in the sediment magnetic fraction relative to the corresponding values in the bulk sediments, whereas Fe, Mn, Ti, Co, Cr, Hf, V and Zn have higher concentrations in the same fraction than the corresponding values in the bulk sediments. This may be attributed to their incorporation in Fe-Mn minerals.