Cyclists caught using their mobile phones will cop an on-the-spot fine from this weekend.

From Saturday, police will start issuing a $476 penalty to any cyclist found using a hand-held phone while riding - bringing the penalty in line with the existing fine for drivers of other vehicles.

Under the new rule, police will no longer have to charge riders and take them to court.

Minister for Roads and Road Safety Luke Donnellan said the fine would stop a "dangerous and potentially deadly practice".

An elite cyclist has died while competing in the Victorian Masters Road Championships.

"Whether you're driving a car or riding a bike – you shouldn't be on your phone – so we're giving police the power to issue an on-the-spot fine when they catch riders doing the wrong thing," Mr Donnellan said.

"We hope that by bringing this fine into line with the penalty for car drivers, we'll stop the dangerous and potentially deadly practice of cyclists using their phones while riding."

Unless parked, riders will be fined for using their mobile phones, even while stationary.

Exemptions will apply if the phone is secured in a mounting affixed to the bicycle, not held by the rider, or is being used to perform a navigational or intelligent highway vehicle system function.