Work will start next week on the full rebuild of Leisurelink's 50-metre swimming pool.
The Council has awarded a contract for the major construction project to AW Nicholson Pty Ltd.
The contract, worth $4,708,099 (excluding GST), will see AW Nicholson demolish the existing pool and replace it with a tiled 50-metre concrete pool.
Improvements will also be made to the waterslide, splash park pumps and water supply.
Mayor Stephanie Asher said the Council was investing an unprecedented amount in its sport and recreation facilities across the municipality.
"Whether it's the northern suburbs, Bellarine Peninsula or the city's south, we are committed to providing premier aquatic facilities close to where residents live.
"As part of our increased focus on renewing our facilities, the Council has a strong focus on improving existing infrastructure to support community health, wellbeing and connection.
"This major upgrade will ensure Leisurelink can serve its local community for many years to come."
The works will require the full closure of the pool, splash park and waterslides from 2 August.
The splash park will reopen before the September school holidays, with the 50-metre pool to be open by mid-2022.
All other aquatic areas, such as the Learn to Swim pool, Warm Water pool, spa and saunas, will mostly operate as normal. Gym and group exercise spaces will not be affected.
The impact on regular users is being minimised as much as possible, with Webstar Swim School classes transferring to Waterworld and Splashdown.
Cr Ron Nelson, of Kardinia Ward, said the Council had invested funding to expand the availability of other pool and aquatic facilities across the network.
Kardinia Aquatic Centre is now open year-round, while Lara Aquatic Centre will open one month earlier than usual on 1 October.
"The high use of Kardinia pool over the past two winters has shown the strong demand that exists for high-quality facilities," Cr Nelson said.
"We are committed to delivering new and upgraded aquatic assets for all residents to enjoy, as we know they provide a number of public health and wellbeing benefits for people of all ages."
In further support for all aquatic and gym users, Swim Sport and Leisure fees have been frozen at 2020-21 levels this financial year.