The Speed River flows through Guelph, Ontario, and is a tributary of the Grand River system. It is also possible to paddle portions of the Eramosa River as a side trip, as the Speed River meets the Eramosa near Royal City Park in Guelph.

A popular launch point on York Road near the Boathouse is located on York Road near the Boathouse, where street parking offers roughly six to eight free spots. The Boathouse itself serves as a reference point, with the launch situated just before the bridge connecting to it. Additional launch points exist in the surrounding area. Another put-in at the Royal Recreational Trail at the end of Municipal St is found at the Royal Recreational Trail at the end of Municipal St, with a take-out option at Wellington Road 32, where stairs make it straightforward to exit the river. That particular stretch covers approximately 8 kilometres and takes around 3.5 hours at a leisurely pace.

The Speed River Paddling operation at the Boathouse offers canoe and kayak rentals seasonally from May through September, Monday through Sunday including holidays, making it accessible to paddlers without their own equipment.

The character of the river varies. One documented stretch from the Royal Recreational Trail to Wellington Road 32 is rated moderate in difficulty. Paddlers should expect swifts and eddies that can be challenging if a boat goes sideways into rocks, as well as frequent shallow sections requiring passengers to exit and pull their craft over. The current in places is brisk enough that paddling upstream would be difficult. There are relatively few bridges and roads crossing the river along certain stretches, contributing to a sense of natural surroundings. Paddlers concerned about scratching their boats or those with limited patience for shallow-water portaging may find this stretch less suitable. The river is navigable during higher water levels, and sections higher up the river benefit from adequate rainfall to remain paddleable.

From Royal City Park in Guelph, paddlers can also explore upstream on the Eramosa River, passing under bridges and alongside the Correctional Centre and various industrial areas before returning.

The Speed River has been used as a starting point for long-distance canoe journeys, with at least one Guelph family beginning a multi-year expedition from the river that eventually reached the Atlantic Ocean.