The street vertically bisects Melbourne's city centre and is famous as the world's busiest tram corridor, for its heritage buildings and as a shopping strip.

The most famous of these statues is of a small bronze dog called Larry La Trobe by Melbourne artist, Pamela Irving.

In November 2008, the newly elected Lord Mayor of Melbourne Robert Doyle proposed returning private vehicle traffic to the street.

The idea was rejected and, by January 2010, plans to make the entire length of Swanston Street in the city car-free were announced by the Lord Mayor himself, a complete reversal of his previous stance.

It is also the major route for the Anzac Day parade because Swanston Street leads into St Kilda Road, the site of the Shrine of Remembrance.

Swanston Street was one of the busiest roads in Melbourne, carrying a large volume of private car traffic, mostly transiting through the city.

In 1992, the street was made partially car-free, with limited exemptions for small freight, buses and private cars during certain times of the day.

[12] Swanston Street was the shooting location for the 1976 video for AC/DC's song "It's a Long Way to the Top (If You Wanna Rock 'n' Roll)".

television series is shown living in an apartment at 339 Swanston Street (Jensen House;[13] now converted into a UniLodge) opposite the State Library.