Tarago Reservoir is a 37,580 ML (1.327 billion cu ft) reservoir located on the Tarago River near Neerim South, approximately 100 kilometres (62 mi) east of Melbourne, Victoria, Australia.

The reservoir was built in 1969 to supply water to towns near Neerim South, the Mornington Peninsula and Westernport regions. In 1994, Melbourne Water stopped using water from the reservoir as it had become unsuitable for drinking. Although it continued to be used for local water supplies, the reservoir was only reconnected to the metropolitan water supply system in 2009 following the construction of a water treatment plant.