The aims  of the Lake Bolac Eel Festival are :

• To provide a public event that will have artistic and cultural content that will enrich the life of the community

• 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

• To promote the Lake Bolac Eel Festival as a significant gathering place for people who care for the environment and respect Aboriginal cultural heritage

• To foster reconciliation and mutual respect and understanding between indigenous and non indigenous peoples

• To promote ecologically sustainable rural practice