The 1929 Australian Grand Prix was a motor race held at the Phillip Island circuit in Victoria, Australia on 18 March 1929. The race, which was organised by the Victorian Light Car Club, had 27 entries and 22 starters. It is recognised by the Motorsport Australia as the second Australian Grand Prix.
The race was won by Arthur Terdich driving a Bugatti Type 37A.
Cars competed in four classes:
Class B cars started the race first followed by the Class A entries thirty seconds later. Class C cars started next, the first group four minutes after the Class A cars and the remainder thirty seconds after that. The Class D cars were the last to start, thirty seconds after the Class C cars.
The winner of the Grand Prix was to be the entry, irrespective of class, which made the fastest time for the race.