The cave at the southern end of Broulee Beach is the best-known shore dive between Batemans Bay and Moruya. The Marine Life Network calls it the most popular shore dive in the area, shallow and beginner-friendly, and describes a cave about 64 m long with numerous openings, reached by a marked trail from the Broulee Beach car park. Downtoscuba describes a spectacular cave that runs for about 90 m, reaching 15 m at its deepest. Spirit Divers' Broulee Beach guide mentions several caves dotted around the site, recommends that inexperienced divers avoid the caves, and rates the site Intermediate with a maximum depth of 13 m.

The main cave is a series of chambers and passages in the rock with light coming in through several openings. Wobbegong sharks, sometimes 2 m long, rest in the cave, and Port Jackson sharks shelter there in winter. Stingrays are common around the entrance and on the sand, and a Sydney club dive blog recorded both friendly and grumpy individuals. In summer, tropical fish arrive with the East Australian Current (December to April), and nudibranchs are found year-round. The reef outside has kelp, boulders and the usual temperate fish.

The site suits Open Water divers who are comfortable in a shallow overhead environment with multiple exits, but anyone uncomfortable in caves can enjoy the reef outside. Carry a torch, keep off the bottom to avoid silt, and give resting sharks space. Broulee Island, a separate nature reserve just to the north, is a boat dive covered in its own entry.

From Batemans Bay drive about 20 minutes south on the Princes Highway or George Bass Drive to Broulee. The Marine Life Network notes a marked trail from the Broulee Beach car park; Spirit Divers gave the entry near Heath Street. Park as close to the ocean as the road allows – there is a small car park at the end – then take the steps at the end of the car park and head south-south-east to a suitable entry point.

Divers usually exit on the beach after a shallow swim around the reef.

Spirit Divers rated the Broulee caves best in north-easterly conditions, when the southern end of the beach is sheltered. Southerly swell makes the entry and cave dangerous with surge. Only dive on low swell days.

Visibility varies from about 5 m to 30 m; water temperatures range from 13–14 °C in winter to 20–22 °C in summer (downtoscuba). Twilight dives are recommended by local divers.

Enter at a sheltered spot and swim to the cave entrance. Explore the cave's chambers using its multiple openings as exits, then continue around the reef at 6–12 m and finish with a shallow swim into the beach.

Beneath the Bay offers guided shore dives in the Batemans Bay area; Spirit Divers ran guided dives at Broulee Beach caves; Sydney clubs visit on South Coast weekends (the Sydney Scuba Dive group took 16 divers). Commonly dived independently by experienced divers.