Findhorn Bay is a local nature reserve designated by The Moray Council in 1998 under powers enshrined in the 1949 National Parks and Access to the Countryside Act. The land is leased by the Council, but remains in private ownership. Management of the reserve is led by a Management Committee with a membership drawn from relevant bodies and individuals in the local community. The main area of interest is the Bay's bird life and the Bay is home to great populations of migratory and resident wildfowl, waders and other birds including ospreys in the summer months, and the Bay has been described as an international airport for birds. Because of the birds, the Bay and neighbouring Culbin sands RSPB reserve is recognised as a Site of Special Scientific Interest (SSSI) by Scottish Natural Heritage who are the Scottish government agency dealing with nature conservation matters. At a higher level, the same area has designation by the European Community as a Special Protection Area (SPA) and under Natura 2000 as a Special Area for Conservation (SAC). Finally, the Bay is designated under the Ramsar Convention as a wetland of international importance, again for its bird life.

Although the Bay is the estuary for the River Findhorn and other subsidiary water courses with a broad area of salt marsh, it is also tidal, and this determines access at any given time. There is yachting and wind surfing in the summer, and wildfowling occurs in the winter. Bird numbers are greatest in the winter months when large populations of geese are resident in the Bay, but significant migratory influence of birds in passage takes place in spring and autumn.