| No. | Name | Type | Tourist | Condition | Livery |
| Y 112 | 1889 - Y Class (Steam) | Operational. Occasionally runs with its original number Y 419. Based at Ballarat East (Sovereign Hill) | Two-tone Green | ||
| A2 986 | 1907 - A2 Class (Steam) | Operational | All-over Black | ||
| 2 CM | 1921 - Parcels van (Suburban) | 21 May 1994 | Stored | VR Blue and gold | |
| 12 CM | 1921 - Parcels van (Suburban) | Underframe only | |||
| 93 M | 1921 - Swing Door motor (Suburban) | June 2017 | Under Restoration | Red | |
| 107 M | 1921 - Swing Door motor (Suburban) | Damaged by fire - 4 March 2015 | |||
| 113 M | 1921 - Swing Door motor (Suburban) | Former Jolimont Workshops Pilot. Stored | PTC green & yellow | ||
| 156 M | 1921 - Swing Door motor (Suburban) | Former Jolimont Workshops Pilot. Stored | PTC green & yellow | ||
| 230 D | 1921 - Tait driving trailer (Suburban) | 1999 | Operational | Rose red with moonstone grey windows | |
| 257 D | 1921 - Tait driving trailer (Suburban) | Stored | Red | ||
| 267 M | 1921 - Tait motor (Suburban) | Stored | Red | ||
| 284 M | 1921 - Tait motor (Suburban) | Stored | Red | ||
| 317 M | 1921 - Tait motor (Suburban) | Operational | Rose red with moonstone grey windows | ||
| 327 M | 1921 - Tait motor (Suburban) | Renumbered back from 469 M. Under restoration | Red | ||
| 381 M | 1921 - Tait motor (Suburban) | 1999 | Operational | Rose red with moonstone grey windows | |
| 470 M | 1921 - Tait double ended motor (Suburban) | Renumbered back from 1470 M. Under restoration | Red | ||
| 208 T | 1921 - Tait trailer (Suburban) | 1999 | Operational | Rose red with moonstone grey windows | |
| 341 T | 1921 - Tait trailer (Suburban) | 1985 | Operational | Red | |
| K 151 | 1922 - K Class (Steam) | Not operational. Stored at Newport | Black | ||
| K 153 | 1922 - K Class (Steam) | Operational | All-over Black | ||
| K 183 | 1922 - K Class (Steam) | Stored after accident damage at Benalla in October 2002. Operational | Blue and yellow | ||
| K 184 | 1922 - K Class (Steam) | Not operational. Stored at Newport | All-over Black | ||
| K 190 | 1922 - K Class (Steam) | Operational | Canadian Pacific Red | ||
| E 1106 | 1923 - E Class (Electric) | Stored | VR Blue and gold | ||
| E 1108 | 1923 - E Class (Electric) | Stored | VR Blue and gold | ||
| E 1109 | 1923 - E Class (Electric) | Stored | Stripped | ||
| 48 G | 1923 - Tait dual lighting trailer (Suburban) | Stored | Red | ||
| RM 56 | 1928 - DERM (PERM) Railmotor | Stored at Ballarat East | VR Blue and gold | ||
| D3 608 | 1929 - D3 Class (Steam) | Non-operational. Stored at Ballarat East | All-over Black | ||
| D3 638 | 1929 - D3 Class (Steam) | Non-operational. Stored at Ballarat East | All-over Black | ||
| D3 639 / D3 658 | 1929 - D3 Class (Steam) | Operational. Occasionally runs with its original number D3 658 | Black with red lining | ||
| D3 641 | 1929 - D3 Class (Steam) | Non-operational. Stored at Ballarat East | All-over Black | ||
| D3 677 | 1929 - D3 Class (Steam) | Non-operational. Stored | |||
| D3 688 | 1929 - D3 Class (Steam) | Non-operational. Stored at Ballarat East | All-over Black | ||
| 201 BT | 1950 - Tait trailer / test car (Suburban) | Stored | Red | ||
| R 700 | 1951 - R Class (Steam) | Under restoration | Black with red lining | ||
| R 711 | Spirit of Bendigo | 1951 - R Class (Steam) | Operational | VR Blue and gold | |
| R 761 | 1951 - R Class (Steam) | Operational | Black with red lining | ||
| B 63 | 1952 - B Class (Diesel-electric) | Not operational. Currently stored at Newport | V/Line - Tangerine and grey | ||
| B 72 | 1952 - B Class (Diesel-electric) | Operational | VicRail Teacup | ||
| L 1160 | 1953 - L Class (Electric) | Not Operational. Stored | V/Line Mk I | ||
| L 1162 | 1953 - L Class (Electric) | Operational/Stored? | VR Blue and gold | ||
| L 1169 | 1953 - L Class (Electric) | Not operational. Stored at Newport | Fictional Orange and Yellow (Shantaram TV series) | ||
| T 356 | 1955 - T Class (Diesel-electric) | Operational | Steamrail - Royal blue and gold | ||
| T 364 | 1955 - T Class (Diesel-electric) | Operational | VR Blue and gold | ||
| T 395 | 1955 - T Class (Diesel-electric) | Operational | Steamrail - Royal blue and gold | ||
| S 301 | Sir Thomas Mitchell | 1957 - S Class (Diesel-electric) | 7 March 2024 | Operational? | Freight Australia with Pacific National Logos |
| S 313 | Alfred Deakin | 1957 - S Class (Diesel-electric) | Operational | VR Blue and gold | |
| M 231 | 1959 - M Class (Diesel-hydraulic) | Operational. Occasionally runs with number M 232 (last loco built at Newport) | Red | ||
| M 232 | 1959 - M Class (Diesel-hydraulic) | Stored | VR Blue and gold | ||
| Y 164 | 1963 - Y class (Diesel-electric) | Operational | VR Blue and gold | ||
| 518 | 1964 - SAR 500 Class (Diesel-electric) | Stored | AN - Green and yellow | ||
| B 222 | 1858 - B 2nd Class | Stored | Red | ||
| AV 1 | 1897 - AV 1st Class | Stored | Red | ||
| AV 32 | 1897 - AV 1st Class | Stored | Red | ||
| BV 3 | 1898 - BV 2nd Class | Stored | Red | ||
| BV 7 | 1898 - BV 2nd Class | Stored | Red | ||
| BV 8 | 1898 - BV 2nd Class | Stored | Red | ||
| BV 18 | 1898 - BV 2nd Class | Stored | Red | ||
| BV 19 | 1898 - BV 2nd Class | Stored | Red | ||
| No 1 Sleeper | Werribee | 1908 - VR Sleeper Cars | Operational | VR Blue and gold | |
| No 2 Sleeper | Indi | 1908 - VR Sleeper Cars | Operational | VR Blue and gold | |
| No 7 Sleeper | Coliban | 1908 - VR Sleeper Cars | Operational | Red | |
| No 8 Sleeper | Inman | 1908 - VR Sleeper Cars | Operational | Red | |
| ABE 3 | 1910 - ABE 1st / 2nd Class | Operational | Red with yellow stripe | ||
| ABE 7 | 1910 - ABE 1st / 2nd Class | Operational. Fitted with a small kiosk | Red | ||
| AE 12 | 1910 - AE 1st Class | Operational | VR Blue and gold | ||
| BE 2 | 1910 - BE 2nd Class | Stored | Undercoat | ||
| BE 3 | 1910 - BE 2nd Class | Stored | Undercoat | ||
| BE 4 | 1910 - BE 2nd Class | Operational?. Fitted with Electro-Mechanical Air-conditioning | VR Blue and gold | ||
| BE 17 | 1910 - BE 2nd Class | Operational? | Red with yellow stripe | ||
| BE 25 | 1910 - BE 2nd Class | Operational | Red | ||
| BE 29 | 1910 - BE 2nd Class | Stored | Red | ||
| BE 30 | 1910 - BE 2nd Class | Stored. Destroyed by fire (arson) in Tarp Shop Yard. Only base of carriage remains | |||
| BE 31 | 1910 - BE 2nd Class | Stored | VR Blue and gold | ||
| BE 38 | 1910 - BE 2nd Class | Operational | Red | ||
| BE 46 | 1910 - BE 2nd Class | Under restoration | Red with yellow stripe | ||
| C 27 | 1910 - C Van | Not operational | Red | ||
| CE 13 | 1910 - CE Breakvan | Stored | VR Blue and gold | ||
| CE 18 | 1910 - CE Breakvan | Use as Observation van. Operational | VR Blue and gold | ||
| CE 19 | 1910 - CE Breakvan | Stored | VR Blue and gold | ||
| CV 1 | 1910 - CV Van | Stored | Red | ||
| Z 590 | 1910 - Z Van | Stored | Red | ||
| AW 25 | 1911 - AW 1st Class | Stored | Red | ||
| AW 64 | 1911 - AW 1st Class | Operational | Red with yellow stripe | ||
| BW 60 | 1911 - BW 2nd Class | Operational? | Red with yellow stripe | ||
| BW 61 | 1911 - BW 2nd Class | On loan to VGR. Operational | Red with yellow stripe | ||
| BW 63 | 1911 - BW 2nd Class | On loan to VGR. Operational | Carriage red | ||
| BW 65 | 1911 - BW 2nd Class | Underframe | |||
| BW 66 | 1911 - BW 2nd Class | Stored | Red | ||
| BW 67 | 1911 - BW 2nd Class | Operational? | Red with yellow stripe | ||
| BW 68 | 1911 - BW 2nd Class | Operational | Red with yellow stripe | ||
| BW 70 | 1911 - BW 2nd Class | Stored | Red | ||
| BW 71 | 1911 - BW 2nd Class | Stored | Red | ||
| BL 12 | Enterprise (2nd) | 1913 - BL 2nd Class | Stored - very poor condition | Red | |
| BL 13 | Pioneer (2nd) | 1913 - BL 2nd Class | Stored | Red | |
| CW 14 | 1913 - CW Van | Operational as observation carriage | Red | ||
| CW 15 | 1913 - CW Van | c1983 | Not operational | Green | |
| Carey (2nd) | 1919 - Shower Cars | Operational | VR Blue and gold | ||
| Goulburn | 1932 - Commissioners Car | Operational as crew car | Red with yellow stripe | ||
| BCE 1 | 1935 - BCE 2nd Class / Van | Operational | Red | ||
| BCE 5 | 1935 - BCE 2nd Class / Van | Stored | Red | ||
| AS 5 | 1937 - AS 1st Class | Operational | VR Blue and gold | ||
| AS 8 | 1937 - AS 1st Class | Operational | VR Blue and gold | ||
| AS 11 | 1937 - AS 1st Class | Operational | VR Blue and gold | ||
| BS 2 (1st) | 1937 - BS 2nd Class | Operational | VR Blue and gold | ||
| BZ 269 | Hobsons Bay | 1957 - BZ 2nd Class | Operational as dance/function car | VR Blue and gold | |
| ABU 32 | 1961 - ABU 1st / 2nd Class | Leased to SGR. Under restoration. Back to Steamrail - 7 December 2018. Stored | Red | ||
| ABU 40 | 1961 - ABU 1st / 2nd Class | Leased to SGR. Under restoration. Back to Steamrail - 7 December 2018. Stored | Red | ||
| 603 | 1963 - SAR 600 2nd Class | Leased to the Picnic Train - 3 June 2023 (SG) | Blue | ||
| 604 | 1963 - SAR 600 2nd Class | Leased to the Picnic Train - 3 June 2023 (SG) | Blue | ||
| 605 | 1963 - SAR 600 2nd Class | Leased to the Picnic Train - 3 June 2023 (SG) | Blue | ||
| ZD 470 | 1975 - ZD Guards Van (Dual Coupled) | Operational | Red | ||
| ZD 471 | 1975 - ZD Guards Van (Dual Coupled) | Stored | Red | ||
| ZD 600 | 1975 - ZD Guards Van (Dual Coupled) | Under restoration | Undercoat | ||
| ACN 24 | 1981 - ACN 1st Class / Van | 2022 | Leased to ALARC - 3 June 2023 (SG) | ? | |
| BN 7 | 1981 - BN Economy Class | 2 August 2022 | Leased to ALARC - 3 June 2023 (SG) | ? | |
| BN 10 | 1981 - BN Economy Class | 2022 | Leased to ALARC - 3 June 2023 (SG) | ? | |
| BRN 34 | 1982 - BRN Economy class / Buffet | 2022 | Leased to ALARC - 3 June 2023 (SG) | ? | |
| AK 500 | 1983 - AK 1st Class | Leased to the Picnic Train - 3 June 2023 (SG) | VR - Royal blue and gold | ||
| AK 502 | 1983 - AK 1st Class | Leased to the Picnic Train - 3 June 2023 (SG) | Blue | ||
| AK 782 | 1983 - AK 1st Class | Stored | |||
| BK 600 | 1983 - BK 2nd Class | Operational | VR - Royal blue and gold | ||
| BK 700 | 1983 - BK 2nd Class | Operational | VR - Royal blue and gold | ||
| BK 702 | 1983 - BK 2nd Class | ? | VR - Royal blue and gold | ||
| BK 703 | 1983 - BK 2nd Class | ? | Explorer - Blue, white and yellow | ||
| BK 711 | 1983 - BK 2nd Class | ? | West Coast Railway | ||
| BRS 9 | 1983 - BRS Economy Class / Refreshment | Operational | Red | ||
| BRS 14 | 1983 - BRS Economy Class / Refreshment | Operational | VR Blue and gold | ||
| D 320 | 1983 - D / DT Parcels Van | Stored | V/Line Mk II | ||
| D 329 | 1983 - D / DT Parcels Van | Stored | V/Line Mk II | ||
| DT 331 | 1983 - D / DT Parcels Van | Stored | V/Line Mk II | ||
| DT 341 | 1983 - D / DT Parcels Van | Stored | V/Line Mk II | ||
| Tantini (1st) | 1949 - Roomette Sleeper | 2010 | Operational | Overland - Red and steel | |
| SJ 283 | Weroni (1st) | 1983 - SJ Twinette Sleeper | 2010 | Stored | Vinelander |
| RS 234 | Moorabool | 1984 - RS Buffet / Special Cars | 24 December 1992 | Operational | VR Blue and gold |
| DCK 601 | 1987 - DCK Dining Car | Leased to the Picnic Train - 3 June 2023 (SG) | Blue | ||
| DCK 607 | 1987 - DCK Dining Car | Operational | VR - Royal blue and gold | ||
| PCP 292 | 1994 - PCP Power Van | Operational | Steamrail - Royal blue and gold | ||
| BTN 254 | 1998 - BTN Economy Class (Terminal) | 6 July 2023 | Stored | ? | |
| ABK 751 | 1999 - ABK 1st / Economy Class | Stored | Red | ||
| U 1796 | 1889 - U Fixed Wheel Louvre Van | Stored | Red | ||
| H 957 | 1893 - H Fixed Wheel Produce Van | Stored. (With code H 997 - no such code) | Red | ||
| H 9 | 1900 - H Casualty Van | Stored | Red | ||
| WT 49 | 1900 - WT Water Truck | Stored | Red | ||
| WT 55 | 1900 - WT Water Truck | Stored | Red | ||
| HD 164 | 1923 - HD Way & Works Boxvan | Stored | Red | ||
| HD 205 | 1923 - HD Way & Works Boxvan | Stored | ? | ||
| UB 40 | 1933 - UB Louvre Van | Stored | Red | ||
| GY 16917 | 1939 - GY Open Wagon | Stored | Yellow | ||
| GY 16944 | 1939 - GY Open Wagon | Operational? | ? | ||
| HW 1 (3rd) | 1955 - HW Weedex Train Crew Support | Stored | Red painted over with white | ||
| B 313 | 1957 - B Boxvan | Stored | Red | ||
| RY 819 | 1964 - RY Open Wagon | Stored | ? | ||
| KMQ 105 | 1974 - KMQ Fixed Wheel Container Wagon | Stored | Red | ||
| VBBX 74 | 1979 - VBBX Bogie Boxvan | Stored | Red | ||
| VCSX 26 | 1979 - VBBX Bogie Coil Steel Wagon | Stored | V/Line Red | ||
| VLBY 105 | 1979 - VLBY Louvre Van | Stored | Red | ||
| VLBY 122 | 1979 - VLBY Louvre Van | Stored | VR Red | ||
| VLBY 132 | 1979 - VLBY Louvre Van | Stored | VR - Red | ||
| VOBX 244 | 1979 - VOBX Open Wagon | Stored | Red | ||
| VWAA 2 | 1979 - VWAA Well Wagon | Stored | ? | ||
| VOAF 9 | 1980 - VOAF Open Wagon | Operational | Red | ||
| VZFA 48 | 1985 - VZFA 'Bogie' Transport | Stored | ? | ||
| VZFA 56 | 1985 - VZFA 'Bogie' Transport | Stored | Red | ||
| VLPF 100 | 1990 - VLPF Mail / Baggage Van | Stored | VR - Red | ||
| VLPF 126 | 1990 - VLPF Mail / Baggage Van | Stored | VR - Red | ||
| VZAF 31 | 1988 - VZAF Way & Works Box Van | Operational? | V/Line Red | ||
| VZVF 1 | VZVF Water tank | Operational | Black | ||
| ? | Van | Stored | Yellow |