The 1938 Australian Grand Prix was a motor race held at the Mount Panorama Circuit near Bathurst in New South Wales, Australia on 18 April 1938.

The Grand Prix was the feature race at the inaugural meeting at the rural New South Wales venue.

The meeting was enlivened by two visiting British drivers, Peter Whitehead and Alan Sinclair who had brought with them supercharged racing machinery, respectively an ERA and an Alta.

Whitehead's main opposition came from Les Burrows driving a 1933 Terraplane-based racing car.

The initial release of official results attracted various protests and led to a recount, with some placings subsequently changed.