Kayaks and canoes are now permitted on the Barkers Creek Reservoir at Harcourt.
The new on-water access will also be welcome to anglers with the reservoir stocked with trout each year from the Victorian Fisheries Authority's (VFA) Snobs Creek hatchery, near Eildon.
Boating and swimming are still not permitted on the waterway.
In the coming months, other Victorian reservoirs including Tullaroop, Lauriston, Malmsbury, Upper Coliban and Hepburn Lagoon could potentially see on-water access expanded as part of the state government's $34 million Target One Million plan.
Member for Bendigo West Maree Edwards said the Target One Million plan aimed at making freshwater fishing better in Victoria.
"The (Barkers Creek Reservoir) waterway is the first to have new access arrangements implemented," she said.
"(It) delivers on an election commitment that will get more people fishing, more often and boost participation to one million anglers by 2020."
Other commitments that are part of the Target One Million plan include building a new hatchery at Shepparton, increasing fish stocking to 10 million by 2022 and improving access to Crown frontage along rivers.
Better on-water access at Barkers Creek Reservoir also means it is the first time a Coliban Water reservoir has been opened for on-water access of any kind.
"Fisheries has worked swiftly with Coliban Water to facilitate on-water access so that trout anglers can enjoy productive autumn and winter fishing this year," Ms Edwards said.
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