The marathon runner, who recently returned from Commonwealth Games talks in India, is throwing his weight behind a campaign to refill the lake, which was officially declared dry in 2006.

Moneghetti said he would financially contribute to the public campaign launched last week to buy a water right for the 3500 megalitres needed to refill Lake Wendouree.

"I can't count the number of times I have travelled out of Ballarat and people have commented on the dry lake. It's a laughing stock, a joke that there's no water in it," Moneghetti said.

"I support this campaign 100 per cent."

The Fill Our Lake campaign was launched last week by Ballarat businessman, Natures Cargo owner Graham Wilkie.

He is asking for public donations to the campaign, which has the backing of the Bendigo Bank, where people can leave contributions.

Moneghetti yesterday described Lake Wendouree as his spiritual home and said he was keen to see the city icon refilled.

"I have been in India for Commonwealth Games talks and Delhi is dry and dusty, with nowhere to go for recreation. But it was while in Delhi that it hit me that Ballarat has this valuable asset in the lake, but it, too, is dry and dusty," he said.

"Lake Wendouree is my spiritual home and I would like to see water back in it," said Moneghetti, who has the 6km track around the lake named in his honour.

Moneghetti has disputed claims from concerned residents that the lake, originally a swamp, should not be tampered with and that "mother nature should be allowed to take its course".

"Lake Wendouree may very well have started out as a swamp, but it is now a man-made lake that is important for Ballarat's environment, its wellbeing and its economy."

Lake Wendouree is an artificially created and maintained shallow urban lake.

In 1864 a rowing course was cut through the reedy swamp and in 1956 the lake hosted rowing and canoeing events during the Olympic Games.

Moneghetti, who runs the lake circuit almost every day, said the sight of a dry lake was depressing.

"I also miss seeing people on the lake ... now when you look at it, all you see are weeds. It's depressing."