The two larger ferries, which can carry 400 extra passengers and 60 per cent more vehicles than their predecessors, cross Bass Strait on Saturday night in what is being hailed as a new era.
"(It) marks the beginning of a new chapter for Tasmania," Premier Jeremy Rockliff said.
"These vessels will help welcome more visitors, support local businesses and freight operators."
Keen travellers arrived at the Geelong terminal early Saturday morning, including motorhome enthusiasts Ricky Glass and Trudi Lane who hail from Tamworth in NSW.
Mr Glass said getting a spot on the inaugural trip had been in the works for 18 months.
"I've been to Tassie three times before and I really wanted to be on the first ride over. Just to be a part of history really, to be one of the first on it," he said.
"We can always have this memory that we'll be on the first trip of Spirit of Tasmania V."
Peter and Lynette Tegen got to the terminal some 10 hours before departure, with their voyage on the new vessel a little more lucky.
"It's not something we planned," Mr Tegen said.
"It's our first trip to Tasmania but we've been looking forward to Tasmania for a long time."
Spirit Tasmania IV and V contain upgraded cabins, a gaming zone, a movie theatre and a distinctly island flavour aimed at giving travellers a taste of what is to come.
"For many travellers, the journey to Tasmania begins the moment they board the Spirit," Tourism Tasmania CEO Sarah Clark said.
"These new vessels create an experience that reflects the quality, character and hospitality visitors can expect."
The delivery of the replacement ferries, which are taking over from decades-old Spirit of Tasmania I and II, was initially meant to occur in 2021.
The contract was signed for $714 million but COVID-19, global conflict and a state government decision to try to pursue a local builder pushed back the timeline.
The project made global headlines in 2024 when it came to light the new required berth at Devonport in Tasmania wouldn't be ready before the ships.
It forced the government to berth one of the vessels in Scotland after a failed bid to lease it out.
The whole project was $717 million over budget with ferry operator, state-government-owned company TT-Line, in 2026 getting a $506 million taxpayer bailout.
TT-Line is also paying to berth the two older ships, with advanced negotiations underway with a buyer.
TT-Line is forecast to remain in debt until at least 2052 with a peak at $1.1 billion this financial year, figures Mr Rockliff said he was comfortable with to provide the "generational infrastructure".
AAP covered the maiden sailing with assistance from Spirit of Tasmania.
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