Today the railway operates both steam and diesel locomotive hauled trains on a variety of services and is staffed almost exclusively by volunteers.

Two appeals run during 2012 were to enable the complete purchase of steam locomotive W947 from Rail Heritage WA with a view to restoring it to operational condition.

Unlike G123, G71 spent most of its service years away from the WAGR operating instead with various privately owned timber companies.

[citation needed] Whilst it will be some years (if not decades) before G71 will be operational, it is important to ensure equipment like this is kept for future generations of members as the funds and resources may become available.

[citation needed] This is a list of steam locomotives currently owned by Hotham Valley Railway.

Some items in this list are privately owned; or on long term lend and/or lease arrangements.

Some items in this list are privately owned; or on long term lend and/or lease arrangements.

In Hotham Valley service, the cars were painted in green and cream livery with mustard roofs, reminiscent of the original WAGR colour scheme applied between the late 1950s and the mid-1970s.