Penambol Conservation Park is a protected area in the Australian state of South Australia located in the state's south-east in the gazetted locality of Caroline about 22 kilometres (14 mi) south-east of the city centre in Mount Gambier.

[2][5] The conservation park occupies land in sections 382, 383, 384 and 701 of the cadastral unit of the Hundred of Caroline which is located to the north of the Glenelg River Road.

[5] As of July 2016, the conservation park covered an area of 1.8 square kilometres (0.69 sq mi).

[4] In 1992, the conservation park was described as being located on a “consolidated inland dune system” which contains the “three significant karst features” that located in the ‘central section”, the “south-east section” (presumably section 382) and section 701 which is described as “a large cenote (a collapsed doline), known locally as the Caroline Sinkhole.”[2][5] It was described as supporting the following major vegetation associations:[2] The conservation park was also reported in 1992 as having the following “locally significant fauna” within its boundaries - bush rat, common brushtail possum, common wombat, eastern grey kangaroo, red-necked wallaby, ring tailed possum, short-beaked echidna, yellow-bellied glider and the following bird species which were listed as being “rare” in South Australia in 1992– gang-gang cockatoo and red-tailed black cockatoo.

[2] The conservation park is classified as an IUCN Category VI protected area.