Held annually on the Lake Bolac foreshore the Lake Bolac Eel Festival is a music festival with a great line-up of local, national and international artists.

The aim of the festival is to enrich the life of the community and to promote the restoration of Lake Bolac and surrounding stream systems to a state that is ecologically sustainable for the flora and fauna it supports.

The 2009 festival included Vorn Doolette, Brett Clarke, Rose Bygrave, Rachel Taylor, Carus, Neil Murray along with Declan O'Rourke (Ireland). 

Community involvement is a large part of the festival and in particular the Twilight Celebration which is a community celebration of Indigenous Culture, with some of the giant Festival puppets from past festival’s making a return appearance.

There is plenty of children’s entertainment including the Connies and rock climbing wall, workshops, displays and Green Trade Fair. 

An Environmental Forum, Healing Walk and Art Exhibition also form part of the festival.