The Liberal Party has announced a $461 million revamp to Ballarat Base Hospital should the Coalition win government.

But the ALP has dismissed the announcement as a stunt, saying it had already announced the funding in the state budget in May and had started work on the project.

Opposition leader Matthew Guy announced the hospital funding during a visit to Ballarat on Thursday with shadow health spokeswoman Mary Wooldridge.

Opposition Leader Matthew Guy announcing the hospital funding in Ballarat on Thursday. Credit:AAP

The Liberal Party's pledge for a massive capital works investment at the hospital would provide for more surgical theatres, a bigger emergency department, extra mental health facilities and more space for a women and children’s hub.