The mature street trees of Lilydale have high local significance as they are associated with the community 'Arbor days' that occurred from 1897-1920 (A4) and the efforts of prominent Lilydale community members to contribute to the townships creation (H1). The street trees are also significant for their aesthetic and landscape values to the Lilydale Township (E1).

The historic trees of Lilydale include the mature street plantings in the following streets:

Clarke Street, Castella Street, Chapel Street, Anderson Street, Cave Hill Road, Maroondah Highway and the Eyrie.

The most intact tree avenues exist in Southern Cave Hill Road, Anderson Street, Castella Street and Maroondah Highway. The avenue existing in Maroondah Highway also known as the Queen Jubilee or Jansen memorial avenue is already protected by Heritage Overlay 77 (HO77).

The trees mainly consist of Elms, Oaks, Plane, Peppercorn and Ash with some eucalyptus species (Sugar and Mahogany Gums) of various ages with a majority being over 70 years old.

There are also remarkable mature rows of Elms within the boundary of the Railway reserve and Lilydale Recreation Reserve near Lilydale Station and the western end of Lilydale Lake near Olinda Creek.