 Balaguier-d'Olt is located some 12 km south-west of Figeac just east of Ambeyrac.The whole north-western border of the commune is the Lot river which is also the departmental boundary between Aveyron and Lot.Access to the commune is by the D86 road from Ambeyrac which follows the river through the village and continues north-east to Capdenac-Gare.