The 1971 Phillip Island 500K was an endurance race for Group E Series Production Touring Cars held at the Phillip Island Grand Prix Circuit in Victoria, Australia on 24 October 1971. The event was staged over a race distance of 106 laps, totalling . It was Round 4 of the 1971 Australian Manufacturers' Championship.
The race was won by Colin Bond, driving a Holden Torana GTR XU-1.
The field was divided into five classes according to the assessed CP Units of each car (i.e. engine capacity in litres multiplied by retail price in dollars).
Note: The above table may not show all starters.