McKay Creek Power Station is one of four hydroelectric power stations in the Kiewa Hydroelectric Scheme, Victoria, Australia. McKay Creek has six 25 megawatts generators driven by Pelton wheel turbines, with a total generating capacity of 150 megawatts.

The power station is located on the slopes of Mount McKay at ground level. The water is transported from the Rocky Valley Dam through a near vertical pipe. Water released from the power station is used by the Bogong Hydropower Project, commissioned in 2009.