The Geoff Perrett Rising Star Award, jointly sponsored by the Perrett family of Leongatha and Leongatha Lyric Theatre, was created at the instigation of the Perrett family following the accidental death of Geoff, who had been a valued cast member and committee member of Lyric Theatre.

Members of the Lyric Theatre committee select the winner of the award each year, which is open to members of Lyric Theatre who are under the age of 21, and who have shown commitment and potential during the past 12 months.