Some of the oldest Russian cities, including Veliky Novgorod and Staraya Russa, are located there. The historic monuments of Veliky Novgorod are surroundings have been declared a UNESCO World Heritage Site.

Novgorod Oblast borders Leningrad Oblast (NW,N), Vologda Oblast (E), Tver Oblast (SE,S) and Pskov Oblast (SW).

The western part is a lowland around the Lake Ilmen, while the eastern part is a highland (northern spurs of the Valdai Hills). The highest point is Mount Ryzhokha (296 m).

Novgorod Oblast is noted for its science- and labor-intensive sectors, particularly the chemical and forest industries. The engineering and metalworking, electronics, chemical, forest, woodworking, and pulp and paper industries produce nearly half of the oblast's marketable commodities.

The chemical industry is Novgorod Oblast's leading economic sector, accounting for 31.4% of total industrial output. Products include fertilizers, general rubber goods, synthetic resins, plastics, paints, pharmaceuticals, and household chemicals. Fertilizer companies using both local and imported raw materials produce nitrogen fertilizers (Novgorod Chemical Plant).