The 1938 Australian Championships was a tennis tournament that took place on outdoor Grass courts at the Memorial Drive, Adelaide, Australia from 21 January to 31 January.

It was the 31st edition of the Australian Championships (now known as the Australian Open), the 7th held in Adelaide, and the first Grand Slam tournament of the year.

The singles titles were won by Americans Don Budge and Dorothy Bundy Cheney.

Don Budge defeated John Bromwich 6–4, 6–2, 6–1 Dorothy Bundy defeated Dorothy Stevenson 6–3, 6–2 John Bromwich / Adrian Quist defeated Gottfried von Cramm / Henner Henkel 7–5, 6–4, 6–0 Thelma Coyne / Nancye Wynne defeated Dorothy Bundy / Dorothy Workman 9–7, 6–4 Margaret Wilson / John Bromwich defeated Nancye Wynne / Colin Long 6–3, 6–2