In July, committee members unanimously voted to merge the two clubs in a move that will give the united committee an enhanced ability to promote the remaining two country racing venues in the Macedon Ranges.

Deputy Premier and Racing Minister Rob Hulls marked the historic merger when he presented the club, now known as Kyneton and Hanging Rock Racing Club, with its new commemorative racing licence.

Mr Hulls praised the club for the decision to combine resources.

"This is a great day for the Kyneton and Hanging Rock racing clubs as they join together to forge a bond that will benefit this strong country racing community," he said.

"The merging of these two clubs will also serve the broader community and provides a shining example of a sensible approach to managing resources that will benefit people whether they're part of the racing industry or not.

"At a time when drought and bushfires have severely affected some regional and rural areas, it's great to see communities like Kyneton and Hanging Rock joining forces to provide better resources."

Merger implementation committee chairman Michael Rowland said the committees of both clubs should be congratulated on their discussions, leadership and consideration of issues throughout the merger process.

"The strength of vote for the merger from both clubs confirms that members understood the need for a new model to build a sustainable and bright future for racing at both of these historic venues."

Mr Rowland thanked Country Racing Victoria and Racing Victoria Limited for their support for the merger process, which began 18 months ago, assisting with the legalities and expertise to implement the move.

Country Racing Victoria chief executive Scott Whiteman said the establishment of the new entity was a positive step for both clubs.

"This merger benefits both clubs and makes racing stronger in the Macedon Ranges region, presenting a united front and an increased ability to drive awareness of country racing."

In June, the Telegraph reported the Kyneton racecourse was partnering with Northern Melbourne Institute of TAFE to use it as an educational venue. The racecourse is now known as NMIT Kyneton Park.

Racing has a 160-year history in the Macedon Ranges.

Kyneton hosted its first meeting in 1852 and Hanging Rock's inaugural race run in 1886.