Peel and slice the peaches.
Add the peaches, water, sugar, and lemon juice to a saucepan. Bring to a boil over medium heat.
Reduce to a simmer and cook for 15–20 minutes, stirring often to prevent burning.
Remove from heat and let cool completely.
Transfer the mixture to a blender and blend until smooth. Place a fine mesh strainer over a bowl and strain the syrup to remove pulp. Pour into a mason jar or syrup bottle. Store in the refrigerator for up to 7 days.