 The Rubicon River rises from the Great Dividing Range below the Blue Range east of , and flows northwest, fueled by runoff from the Blue and Cerberean Ranges, joined by the Royston River and one minor tributary, before reaching its confluence with the Goulburn River, west of the town of .The river descends over its course.The Rubicon Hydroelectric Scheme, a small run-of-the-river hydroelectric scheme, is located at the mouth of the Royston River.