Small wooden ferries such as MV Beth were a common sight in waterways across Australia in the 1950s.
But Maritime Museum of Townsville curator Robert De Jong said while they were not really needed anymore, they had taken on a historic significance.
Beth was purchased by the museum in 2001 for the modest price of $1.
The eight-meter-long timber boat has been listed on the Australian Register of Historic Vessels alongside Royal Australian Navy frigates.
It took decades of care to restore her to her former glory.
"When she first came here, she was very sad," Mr De Jong said.
"Now, she looks like brand new."
Volunteer Warren Hughes, a former marine engineer, said a team spent hundreds of hours working from black and white photos.
"She was in reasonable condition for a boat that's been sitting on dry land for a long time, but I wouldn't like to put it back in the water," he said.
"It was very good to see it restored and being recognised for the important role it has in the marine industry back in the 50s and 60s.
He said the volunteers should be proud of the work they did at the museum.
"They'd be really chuffed it's been given the big tick of approval," he said.
Built 73 years ago by Hansen Brothers of Bowen, MV Beth was one of the last surviving ferries of her kind in north Queensland, Mr De Jong said.
"In those days, public transport didn't exist," Mr De Jong said.
"To walk from the city to the port was a long distance so it was easier and quicker to use a little boat to ferry yourself up and down."
Beth operated as a ferry on Ross Creek in Townsville for about 25 years, carrying about 12 passengers on 20 trips each day.
The vessel then spent another 20 years working as a lines boat at the Port of Townsville.
"In the olden days with big ships coming in, it wasn't easy to moor them against the wharf," Mr De Jong said.
"Beth took the mooring lines from the ship to the wharf … she had a very important role to play in those days".
He hoped the refurbished MV Beth would be a drawcard for visitors.
"We always thought it's just a little boat from Townsville," Mr De Jong said.
"Hopefully, through this [register] we'll be able to preserve her until she turns 100 years old".