Hyland Lake is a popular fishing spot for families. Rainbow trout is regularly stocked by Fisheries Victoria. Redfin, carp and eels have also been caught in the lake. Most of the shoreline is accessible to anglers with the deeper sections of water to be found along the northern bank.
The lake offers more than just fishing, bird watchers also flock here as the lake offers high-quality experiences due to the abundance of avian life. The eastern side of the lake is recognised as a bird habitat.
The northern end of the lake adjoins Mathison Park and a handful of walking trails, remnants of a historic homestead and a native conifer plantation.