New planning rules will be put in place to protect Melbourne's Yarra River for future generations, the Victorian Government says.

The Yarra River Action Plan applies to a 42-kilometre stretch of the river.

Planning Minister Richard Wynne said the plan would ensure there was a "consistent approach right up the river from Richmond, through to Warrandyte".

"That's 42 kilometres involving six councils, who've all worked constantly with us to have a coherent, approach to the Yarra River," he said.

"We went to the last election with a commitment to protect the Yarra for the next generation."

Premier Daniel Andrews said the Yarra River was a special part of the state which had not been given the regard it is owed.

He said the plan would change that.

"So whether it's consistency in planning and getting better development outcomes, [or improving] water quality so that the spaces adjacent to this river can be enjoyed by more people and be there for the generations to come," he said.

A new body called the Birrarung Council will be established to give voice to experts, Indigenous groups and other stakeholders on issues affecting the waterway.

"This is going to be an independent body, which will provide advice to government about not only the importance of the river, but how the river should be kept in good health," Mr Wynne said.