The Phillip Island penguins, a major Victorian tourism drawcard, are to have their own nightly live video feed as they waddle onto shore.

As the state's tourism industry continues to suffer from coronavirus restrictions, the nightly penguin parade will be live-streamed each night from Tuesday.

It is being billed as the world's first nightly live stream of a natural wildlife event and it will also feature commentary.

The parade at Phillip Island, on Victoria's south coast, is a major tourism drawcard.

About 3000 of the birds waddle back onto the beach from Bass Strait after fishing each night.

Live Penguin TV is being launched during the penguins' breeding season. It will allow fans in Victoria and around the world to watch the famous parade on their phone, computer or device, or stream to their TV when they can't see it in person due to current travel restrictions.

The idea was hatched after two videos about the penguins earlier this year generated plenty of international attention.

"(The) exposure reminded us all how entertaining and loved our little penguins are, and Live Penguin TV will now allow everyone in the world to enjoy this special event every night,'' Phillip Island Nature Parks chief executive Catherine Basterfield said.

"The ... penguins have missed having the crowds watching them every night, so I'm sure they will put on a good show for the cameras.''

The show, to be screened at 6pm AEST, will be available on Facebook and YouTube.