The incumbent United Australia Party led by Prime Minister of Australia Joseph Lyons formed a minority government, with 33 out of 74 seats in the House.

The opposition Australian Labor Party (ALP) led by James Scullin saw its share of the primary vote fall to an even lower number than in the 1931 election, due to the Lang Labor split.

However, it was able to pick up an extra four seats on preferences and therefore improve on its position.

Almost two months after the election, the UAP entered into a coalition with the Country Party, led by Earle Page.

Future Prime Ministers Robert Menzies and John McEwen both entered parliament at this election.