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VegetationFlora species of note include the endangered Grey Billy-buttons, Small Scurf-peas, and Jericho Wiregrass. Areas containing tree hollows and mature Silver Wattle contain habitat of national significance for the rare Squirrel Glider.
The River Red Gum forest with areas of grassy and shrubby understory, plus the large number of wetlands, billabongs provides habitat for many significant fauna species including Brush-tailed Phascogales, Barking Owls, Royal Spoonbills and Musk Ducks. Reedy Swamp, north of Shepparton, is a haven for waterbirds including the Glossy Ibis and the Royal Spoonbill. Unlike many Victorian rivers, the Goulburn River below Shepparton remains largely undisturbed. In-stream debris and large snags provide valuable habitat for Murray Cod and other fish species.