The Lantern is a light source that can be either equipped or placed on the ground to provide light. It requires 2 Light Bulbs, 3 Twigs, and 2 Ropes and requires an Alchemy Engine to be prototyped. It is ideal for Spelunking because it has a larger light radius than any other mobile light source. Once crafted it lasts 8 minutes before it must be refueled with either Light Bulbs, Fireflies or Slurtle Slimes. Fireflies will refuel it for 39% which will last for 180 seconds Light Bulbs for 19% which will last for 90 Seconds, while Slurtle Slimes for 9.5% which will last for 45 Seconds. Like a Fire Pit, when fuel is low, the light radius gradually becomes smaller.
This is one of the two portable light sources that are also refuelable. The other being the Miner Hat.
This is the only light source that generates light both when dropped on the ground (like a pumpkin lantern) and held (like a torch), making it useful as both a static and mobile light source. This means that if you need to free your hands (e.g. to hold a weapon), you can drop the lantern and the light won't go out, which is especially handy in the caves.
This is the only light source that can be manually turned off or on when placed on the ground.
The lantern also can be used as a weapon, though not dealing any additional damage.
Despite the lantern appearing to be made of Logs, it is crafted using twigs.