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Kyneton is located approximately mid-way between the cities of Melbourne and Bendigo, in the scenic Macedon Ranges and on the Campaspe River.

Kyneton has a thriving commercial centre which boomed back in the days when the town served as a gateway and supply centre to the goldfields around Castlemaine and Bendigo during the Gold Rush days of the 1850s. Piper Street was the town's original commercial centre, and is now a historical precinct featuring a large collection of historic bluestone buildings including cafes, antique shops, galleries, and the Kyneton Museum. Kyneton's main shopping strip is centred around Mollison Street and High Street and includes a selection of historic buildings and shops with antique facades and verandahs. The landmark buildings in Mollison street are the towering Post Office building which dates back to 1871, and the two major pubs - the Newmarket Hotel and the Shamrock Hotel.

A collection of bluestone churches can be found around the Ebden Street and Yaldwyn Street areas, including St Pauls which was built in 1856 and is one of Victoria's oldest surviving churches.

The Campaspe River runs along the western and southern edges of town and following much of its route is the Campaspe River Walk which passes alongside several attractions including weirs, the ruins of a number of fords and a swimming pool. Kyneton's racecourse is situated beside the Campaspe River with elm trees lining the main track and it is the venue of several racing and entertainment events including the Woodend and Kyneton Cup. At the southern edge of town, the Campaspe River flows beside the Kyneton Botanic Gardens which date back to the 1860s and just south of the gardens, a historic bluestone bridge which was built in 1861 spans the river gorge.

The Kyneton Mineral Springs can be found on Burton Avenue near the junction with Lauriston Road, 4 kilometres north-west of the town centre. The two springs are situated beside Boggy Creek and the surrounding reserve features shady picnic grounds and shelters.

Around 10 kilometres west of Kyneton is the Lauriston Reservoir. A small fee is required to access the picnic grounds which are situated near the dam wall and spillway at the Coliban River. The picnic grounds and parts of the reservoir are surrounded by pine forests. South-west of Kyneton is the larger Upper Coliban Reservoir which is accessed via Springhill Road near the point it crosses the Coliban River. Good views can be enjoyed of the spillway and the Coliban River near this point.