VicRoads is inviting residents to join in festivities to celebrate the completion of the long-awaited stretch of freeway running from Beaconsfield to Nar Nar Goon.

The community day will include the official opening ceremony at 12pm, followed by an opportunity for participants to walk a 1.5-kilometres stretch of road between Koo Wee Rup and Bald Hill roads.

To access the bypass, residents will need to catch a shuttle bus, which leaves from the Pakenham racecourse car park, starting about 10.15am.

There will be no vehicle access to the freeway.

Shuttle buses will leave the racecourse about every five minutes (last bus leaves at 1pm) and will return people to the car park after the event (last bus leaves the bypass at 2.30pm).

There will be no parking permitted along Healesville-Koo Wee Rup Road, Racecourse Road or King Street, with restrictions in place.

Entertainment, displays and food will be on offer at the community event, which runs from 10.30am to 2.30pm.

There will be rest areas with toilets, sunscreen and water supplies along the open section of the bypass.

The $242 million Pakenham bypass is expected to be open to traffic in early December and it is anticipated the road will reduce the average travel time between Beaconsfield and Nar Nar Goon by up to 50 per cent.