Lipson Cove is a tranquil sandy bay in the Australian state of South Australia on the east coast of Eyre Peninsula overlooking Spencer Gulf.

Coastal features include granite hills and cliffs which extend northwards from Lipson Cove to Port Neill.

It was initially proposed by Centrex Metals for the export of iron ore, but the company abandoned the project and put the site up for sale.

In 2018, agribusiness Free Eyre expressed interest in purchasing the land and developing a grain export port there instead.

"[18] The island is an important rookery for roosting sea birds, including colonies of black-faced cormorant, crested tern and little penguin.

The Lipson Island little penguin colony is significant owing to its stable population, while most others of known status in Spencer Gulf are either in decline or have gone extinct.

Species of conservation significance known to inhabit or visit the area include hooded plovers, fairy terns, white-bellied sea eagles, great white sharks, southern right whales[21] and bottlenose dolphins.

[23] In addition to those iNaturalist observations, the Atlas of Living Australia shows records of 268 species within a 5 km radius of Lipson Cove.

[24] In 2022, local resident Keira Berryman was awarded Young Citizen of the Year by the Tumby Bay Council for her work promoting the environment at Lipson Cove.

In 2021, she received a grant to install a sign at the cove that draws visitors' attention to three iconic species: the bottlenose dolphin, little penguin and white-bellied sea eagle.