Deputy Prime Minister Michael McCormack said the long-awaited project had been completed well ahead of schedule, with Saturday's community walk celebrating the achievement.

"This five-kilometre bypass will improve road safety and reduce travel times for freight traffic, by providing an alternative route around the town," he explained.

"The entire region will benefit immensely from the bypass opening, particularly the local economy with more than 1150 direct and indirect jobs supported during construction.

"Today's community walk is a fitting way to mark the completion of the project, which follows many years of planning, consultation and construction."

NSW Minister for Regional Transport and Roads Paul Toole said the bypass would change the way people moved in and around Scone.

"We're giving local streets back to the community, with the bypass taking a large number of heavy vehicles from the town centre," he stated.

"Until now, highway traffic passed through Scone along the main road access to the town, which is also the main street through the central business district.

"The New England Highway south of Scone carries 8400 vehicles a day.

"That means those looking to continue their journey without stopping will no longer need to travel through the town centre."

New England MP Barnaby Joyce said the community event was a welcome celebration for the locals.

"There is still some landscaping work to be completed," he admitted.

"But, with the bypass opening to traffic this week, today's event gives residents an once-in-a-lifetime opportunity to walk along the bypass and take some unique photos of the town and surrounds.

"As a memento for the day, community members have also been given a passport-style brochure to collect stamps as they cross the three bridges along the route."

Upper Hunter MP Michael Johnsen said the bypass took almost two years to complete.

"It was no easy undertaking," he added.

"Crews worked hard to build the two-lane highway bypass to the west of Scone, passing between White Park and the redeveloped Scone golf course and incorporating three bridges.

"By also providing a grade-separated intersection at the southern end, crossing over both the rail line and over Kingdon and Liverpool streets, it will allow unimpeded access to and from the bypass to the north and south of town and midway at St Aubins Street."