The concentrations of various forms of nitrogen and phosphorus in the main stream and selected tributaries of Pirron Yallock Creek, southwestern Victoria were examined over a two-year period. Exceedingly high levels of both nutrients were found within a particular tributary, while generally high nutrient levels were observed throughout the catchment. The speciation results indicated that dairy effluent was the primary source of nutrients to Pirron Yallock Creek. A palaeolimnological study was undertaken to determine the impact of European settlement upon waterway nutrient concentrations within the region. The palaeolimnological study focused primarily on the diatom flora preserved within the sediments of nearby Lakes Corangamite and Bullen Merri. Lack of preservation of diatoms within the sediments of Lake Corangamite resulted in no water quality inferences for this lake. The preserved diatoms within Lake Bullen Merri suggested an increase in trophic status of this lake during the last 500 years. While a change in the diatom flora of Lake Bullen Merri was evident, it was not possible to differentiate the impact of European settlement upon nutrient status of this waterway from long-term trophic status change. In light of the particularly high nutrient concentrations observed in Pirron Yallock Creek, improved nutrient management strategies are proposed for the catchment. These strategies, which consider current nutrient management activities, are predominantly focussed on the dairy industry, which occupies the majority of the catchment.