Moulting Lagoon Game Reserve is a large, internationally recognised wetland at the northern end of Great Oyster Bay on the east coast of Tasmania. It is an important breeding ground for various waterfowl and wetland birds, and also a destination for migratory birds. As such, it is an excellent place for bird-watching, although due to the sheer size of the lagoon, some species may be difficult to spot. It also contains rare and significant wetland flora and fauna, as well as being an area of extraordinary beauty. The name Moulting Lagoon comes from black swans shedding their flight feathers. These can often be seen piled up along the shoreline.
In addition to its natural significance, the lagoon is important for cultural values, such as its importance to the Aboriginal community, and its continuing use by the local community for a variety of recreational and commercial activities, including duck hunting.