Scott Nature Reserve was gazetted as a result of the Southern Regional Forest Agreement, to contribute to the protection of vegetation and habitat in the region. It contains a medium height forest of brittle gum, broad-leaved peppermint and black sheoak. Native animals recorded in the reserve include the eastern grey kangaroo, swamp wallaby, ring-tailed possum, eight species of bats, and abundant bird life. Threatened species recorded in the broader area that are likely to use the reserve include the koala, barking owl and powerful owl.
Four trees carrying scarring attributed to Aboriginal activity have been recorded within the reserve as well as remains from early gold mining activities.
The New South Wales National Parks and Wildlife Act 1974 requires that a plan of management be prepared for each nature reserve. A plan of management is a legal document that outlines how an area will be managed in the years ahead.