The funding will be provided to Strathbogie Shire Council through the Victorian Government's Regional Infrastructure Fund.
The Regional Development Victoria Grant will add to the $350,000 Federal Government grant provided in May 2019, the $250,000 from Strathbogie Shire Council and $200,000 provided by the Nagambie community.
"This funding is a huge win for Council and the whole Nagambie community," Mayor Cr Chris Raeburn said.
"The Nagambie Foreshore Walk will be a safe and accessible connection between Nagambie Lakes Regatta Centre, the Nagambie Lakes Leisure Park and the town centre.
"Above and beyond this, it will create an attractive and iconic walking trail for residents and visitors to enjoy year-round."
Cr Raeburn said connectivity and the link between the Nagambie township and the regatta centre and caravan park was a key topic raised during Council's recent community engagement sessions, Share Strathbogie.
"This funding will support township connectivity, economic development and safe, healthy, active living," he said.
The foreshore walking trail includes construction of a safe, all abilities accessible pedestrian/cycle path.
It will extend for about 2.4km and will comprise of on land and on-water features.
"Council maintains and promotes a number of walking tracks and trails for the health and well-being of residents to be active and engage in outdoor activity," Cr Raeburn said.
