They held a narrow lead over Ballarat Grammar with about 500 metres remaining.

Then they heard the crowd.

The deafening roar from the Loreto cheer squad propelled the crew down the final stretch, landing the school its second Head of the Lake crown.

"They helped us so much, it was really good to hear the crowd cheer us on," Loreto stroke Casey Dodd said following the race.

"We were trying to visualise winning the race going in and we never visualised losing. At the end, it was just the best feeling ever."

The crew featuring, Dodd, Bella Prendergast, Stephanie Jones, Libby Hutt and Ash Love crossed the line in a time of seven minutes and 46 seconds.

They edged out rivals Ballarat Grammar, which finished four seconds behind in 7:50. Ballarat High School finished third, while Ballarat Clarendon rounded out the race in fourth place.

The crew was neck-and-neck with Ballarat Grammar and Ballarat High throughout the first few hundred metres, before pulling away at the half-way mark.

"We started well, we were a little bit behind but we pushed up," Loreto three seat Bella Prendergast said.

"We were good in the middle and we've been working really hard on our starts and finishes, which paid off today."

High winds made for challenging conditions out on the water. Ash Love, who served as cox, said the crew wanted it so badly that it hardly made a difference.

"I knew that the girls had it in them to give that extra bit, and when I called they just went," she said.

"It felt very surreal, it all happened in the moment and it went by so quickly.

"We really wanted to win it for one of our coordinators, who is leaving at the end of the year."

The win marked the first division one victory since 2017 for Loreto, which etched its name on the JH Netherway Cup for a second straight year.

Loreto division one rowing coach Stef Seeary said she couldn't be prouder of her crew.

"I knew they had it in them," she said.

"Today is different to any other regatta. You get one shot and you've got to be ready to take that shot.

"I was so happy to see them cross the line first."

The race marked the first division one win as a coach for Seeary, who has coached rowing for 12 years. She praised the crew's cohesion and support of one another throughout the process.

"This is what you train them for, and at the end of the day, it's your end goal," she said.

The school will now set its sights on the Victorian Championships - an event they also won in 2017.