The Nevado de Toluca is a dormant stratovolcano about 30 km south-west of Toluca. At 4,680 metres it is the fourth-highest mountain in Mexico, with a wide collapsed crater holding two small lakes — Lago del Sol and Lago de la Luna — that are extraordinary at this altitude.
A road runs up to about 4,200 metres, leaving a relatively short walk into the crater. In dry weather (roughly November–April) it is doable as a half-day from Toluca, though the altitude is no joke and the wind on the rim is fierce. Hardier walkers continue up to the Pico del Fraile or Pico del Águila summits, which give views over half of central Mexico on a clear day. Snowfall closes the access road periodically in winter; check current conditions before driving up.