It was occupied soon afterwards by pastoralists, and two sheep runs were established in the area, at the foot of nearby Mount Tarrengower.

In December 1853, gold was discovered at Cairn Curran (the name given to one of the sheep runs), and Maldon became a part of the Victorian Gold Rush[2] The goldfield which was named "Tarrangower Fields" after Mount Tarrangower (now usually referred to as Tarrengower), immediately attracted people eager to make their fortunes at the diggings.

[citation needed] In 1861, a government census declared the town's population to be 3341, servicing an additional 5,000-6,000 miners at the diggings.

However, as miners were forced to dig deeper to obtain usable specimens, or as mines ran dry completely, the population began to decline.

Maldon proved to be one of Victoria's richest quartz-mining centres, though with poorer alluvial results than others such as Castlemaine or Ballarat.

Notable landmarks include the Beehive Chimney, Mount Tarrengower and the fire tower, Lake Cairn Curran, and the Maldon railway station.

The Maldon Museum and Archives Association displays a large collection of local artifacts and also operates a family-history research centre.

The Maldon Vintage Machinery Museum houses stationary engines, farming implements, mining exhibits, fire pumps, and objects with links to Thompsons Foundry, Castlemaine.

[14] Much of the 2007 film Romulus, My Father, set in the 1950s and starring Eric Bana, was shot on location in Maldon.