Merimbula Wharf, beside the Merimbula Aquarium, is the busiest shore dive on the Sapphire Coast. Like Tathra, the wharf was built in the late 1800s so coastal steamers could land passengers and cargo at a town with no natural harbour, and it was used until the mid-1900s. The building at its base now houses an aquarium and restaurant, and anglers crowd the wharf itself. Merimbula Divers Lodge calls it one of Australia's top ten shore dives, and Diveplanit describes a rocky reef with kelp in the shallows grading into sponge gardens at depth, with ledges and caves and sand flats beyond, dropping to 16 m.

McFadyen describes a full circuit. From the entry point you cross a wall to 6–7.5 m, then follow the reef north to a pair of plastic pipes (used to supply the aquarium) that are weighed down with literally hundreds of bags of cement, alongside pieces of old wharf pylons and timbers. The pipes lead to the wharf, where it is shallow (under 4 m) and the rocks are fairly bare, but fish gather under the structure: a resident bull ray, blue groper and yellowtail. The pipes also lead out to 10 m, and over a further wall to sand at 14 m, where an old bulldozer track lies on the bottom. The small wall south from here has the best growth, with gorgonians and sponges.

The critter list is what makes Merimbula's reputation. Merimbula Divers Lodge and Diveplanit list weedy sea dragons, seahorses, octopus, giant cuttlefish, nudibranchs (including Bennett's and blue dragons), sea pens, banded wobbegongs, Port Jackson and crested horn sharks, Australian angel sharks, draughtboard sharks, smooth stingrays, bull rays, shovelnose rays, moray eels and occasional grey nurse sharks and green turtles. The site suits beginners, photographers and night divers. Keep away from the anglers and their lines.

From the centre of Merimbula, turn left where the Princes Highway makes a right-angle turn, then right and follow the well-signposted road out to the wharf and aquarium (about 450 km and 5.5–6 hours from Sydney). Park as close to the southern end of the road as possible. Look over the wall: to the left, a small gap between the wall and the building leads to a couple of steps over the wall onto the rock platform.

Walk across the rock to the small point. Giant stride from the western side; the southern side has a sloping rock that makes a good exit.

McFadyen notes the dive is not for when southerly seas or winds are up but is especially good when north-easterlies are blowing; Diveplanit adds that the rock entry and exit are best avoided in a southerly swell. The site is usually protected otherwise. Visibility is generally 8–12 m, sometimes over 15 m, but because it is near the Merimbula Lake entrance it gets dirty after rain and on outgoing tides – dive on the flood.

Water ranges from about 12 °C to 20 °C.

Drop to the bottom and head west over a wall to 6–7.5 m, then turn north and follow the reef to the plastic pipes covered in cement bags. Follow the pipes north-west to the wharf (under 4 m), swim under it and out the other side, then return along the pipes to their end at 10 m. Head west over the wall to the sand at 14 m (bulldozer track), follow the small wall south to about 15 m through the best growth, and return east to 5–7 m and north to the exit.

Merimbula Divers Lodge runs guided dives and courses here (calls it one of Australia's top ten shore dives); Sapphire Coast Scuba guides fun dives here; Dive Eden also uses local wharves. Heavily dived independently, including at night.