The Kerang Lakes are recognised as internationally important wetlands under the Ramsar Convention. The Kerang Ramsar site comprises 23 lakes and swamps of great diversity and vary widely in size, permanence, depth, salinity and vegetation type.

Lake Charm and Kangaroo Lake are two lakes popular for recreational activities.

Lake Charm is a large freshwater lake and is a popular location for water sports including swimming, water skiing, bird watching, fishing, and kayaking. Lake Charm regularly hosts the Victorian Ski Racing titles as well as Victorian point score events. Competitors come from all over Australia to compete in the events.

Two caravan parks are located on the waterfront. The relaxed setting of Lake Charm is the ideal destination for a family getaway or day trip. The eastern shore of the lake is a haven for birdlife and fishing is very popular, with redfin, yellow belly and Murray cod regular catches.

Kangaroo Lake is well-known for fishing and water sports with the caravan park right on the lake foreshore. The north end of the lake is popular for day visitors with all types of recreation. The west side of the lake is also used for watersports, fishing and swimming. The lake hosted Jettin Vic races in 2021, the first jet ski races in Victoria in ten years.