The discovery of gold at Ballarat in 1851 sparked a gold rush, enticing more than 6000 miners from across the globe to make their way to the area every week.
From hard rock open cut mines at Castlemaine to the Victorian era buildings of Bendigo, the region is considered the most extensive and best surviving gold rush landscape in the world.
Those goldfields were tentatively added to Australia's World Heritage list on Friday.
Thousands of people from around the world flooded into Ballarat hoping to find golden nuggets. (HANDOUT/MEDIAWISE PTY LTD)
The region welcomes millions of tourists each year and a World Heritage listing is expected to boost tourism.
Six key areas have been included in the submission, including the Bendigo historic landscape, Castlemaine goldfields and historic townships, with the possibility more could be added.
If successful, the areas would join the Budj Bim Cultural Landscape, Uluru-Kata Tjuta National Park and the Sydney Opera House on the official list.
Premier Jacinta Allan swatted aside concerns the listing would lock people out of the land, effectively prohibiting prospecting and other recreational activities.
"This does not impact current land use or current land ownership," she said in Bendigo on Friday.
"I want to be crystal clear and anyone that might want to mischief make on this, I hope you'd support us in being able to put those concerns to rest from the get go.
"This is about attracting more visitors."
World Heritage listing will entice more visitors to regional attractions such as Sovereign Hill. (James Ross/AAP PHOTOS)
The premier, who is from Bendigo, said the goldfields were a living testament to people who came seeking a better life and had changed the state.
"World Heritage sites are on bucket lists of tourists worldwide and our historic goldfields are on their way to be right there among them," Ms Allan said.
Traditional owner groups were involved in the application process and the bid recognised custodians' role in the region, the premier said.
"It will give us the opportunity to showcase the oldest continuous culture to the rest of the world," Ms Allan said.
Federal Environment Minister Tanya Plibersek, who was in Bendigo for the announcement, said the goldfields told many stories including immigration and the building of towns in harsh landscapes.
"It deserves to be celebrated and protected," she said.
