The sanctuary contains many different types of wetland and is home to many plant species as well, such as river red gums, tall spikerush, and tussock grass.

Serendip now focuses more on environmental education about the flora and fauna of the wetlands and open grassy woodlands of the Volcanic Western Plains of Victoria.

[2] Wadawurrung country covers over 10,000 km2 (3,900 sq mi) from the Great Dividing Range to the South Coast, including the Geelong and Ballarat greater districts.

Parks Victoria offers a free Junior Ranger's Program at Serendip, where families with young children can partake in educational park-based activities during school holidays and weekends.

[2] Some of the ranger-guided activities include wetland walks, fire recovery, and various talks to discover and learn about different animals and habitats.

[2] Serendip's participation in the National Recovery Plan for the eastern barred bandicoot aims to minimise the probability of extinction by reintroducing self-sustaining populations.

[11] The eastern barred bandicoot (Perameles gunnii) is a small marsupial native to south-eastern Australia, mainly Tasmania and south-western Victoria.

The predominant ecosystems of grassy woodlands and wetlands at Serendip Sanctuary are reflective of the original eastern barred bandicoot habitat, and therefore creating an optimal site for ease of repopulation.

[11] Serendip Sanctuary's predator-proof fence is a major contributor to recovery effort, protecting captive and re-introduced populations from foxes as the main predator.

[12] In 2018, a study was conducted at the Werribee Open Range Zoo in Victoria to investigate whether captive breeding programs of the eastern barred bandicoot can improve reproduction numbers by allowing females to choose their male partner for mating.

[12] Serendip Sanctuary facilitated the transfer of eastern barred bandicoots for the study and thus contributed to necessary research into correcting and improving captive breeding programs for increased successful repopulation rates.

[2][14] The Cape Barren goose (Cereopsis novaehollandiae), was part of the first successful bird breeding programs at Serendip Sanctuary.

Various breeding programs have repopulated Cape Barren goose to a level where they are now considered stable, however their overall population remains one of the rarest geese.

[16] In the early 1900s, magpie goose populations had seriously declined primarily from loss of wetland habitats from droughts, hunting and predation by foxes.

[21] Serendip Sanctuary's rehabilitation and captive breeding procedures follow a three-step process from birth, characterised by age.

[22] Finally, from 4–5 months old, brolgas are left permanently outside in a fully open enclosure, still with access to a heater before being completely released into the wild.

[24] The most prevalent animals include the Australian bustard, brolga, eastern grey kangaroo, swamp wallaby, herons, ducks and magpie geese.

[24] Serendip is composed of wetland and grassy woodland ecosystems allowing for different flora and fauna species to thrive in diverse habitats.

[25] These areas are limited within the Victorian Volcanic Plain due to farming practises, burning regimes and weed invasion, making Serendip's grassy woodlands of high conservation value.

[25] Serendip's grassy woodlands are primarily made up of eucalypts creating an open tree canopy with a native understorey.