See also: 1953 in Australia, other events of 1954, 1955 in Australia and the Timeline of Australian history.

Incumbents

• Monarch Elizabeth II
• Governor-General Sir William Slim
• Prime Minister Robert Menzies

State Premiers

• Premier of New South Wales Joseph Cahill
• Premier of Queensland Vince Gair
• Premier of South Australia Thomas Playford IV
• Premier of Tasmania Robert Cosgrove
• Premier of Victoria John Cain I
• Premier of Western Australia Albert Hawke

State Governors

• Governor of New South Wales Sir John Northcott
• Governor of Queensland Sir John Lavarack
• Governor of South Australia Sir Robert George
• Governor of Tasmania Sir Ronald Cross, 1st Baronet
• Governor of Victoria Sir Dallas Brooks
• Governor of Western Australia Sir Charles Gairdner

Events

• 3 February Elizabeth II arrives in Sydney on her first visit as monarch
• 13 February Mawson Station in the Australian Antarctic Territory is established
• During February, a cyclone hits the Gold Coast and northern New South Wales, killing 26 http://www.bom.gov.au/lam/climate/levelthree/c20thc/cyclone3.htm
• 3 April Vladimir Petrov, a Soviet diplomat, defects to Australia, sparking the Petrov Affair
• Shirley Bliss wins the Miss Australia Quest

Science and technology

• The Australian Academy of Science is established

Arts and literature

• Ivor Hele wins the Archibald Prize with his portrait of Rt Hon R G Menzies, PC, CH, QC, MP
• Charles Bannon wins the Blake Prize for Religious Art with his work Judas Iscariot

Film

Sport

• Cricket
  • New South Wales wins the Sheffield Shield

• Football
  • Brisbane Rugby League premiership: Wests defeated Brothers 35-18
  • New South Wales Rugby League premiership: South Sydney defeated Newtown 23-15
  • South Australian National Football League premiership: won by Port Adelaide
  • Victorian Football League premiership: Footscray defeated Melbourne 102-51

• Golf
  • Australian Open: won by Ossie Pickworth
  • Australian PGA Championship: won by Kel Nagle

• Horse Racing
  • Rising Fast wins the Caulfield Cup
  • Rising Fast wins the Cox Plate
  • Rising Fast wins the Melbourne Cup

• Motor Racing
  • The Australian Grand Prix was held at Southport and won by Lex Davison driving a HWM Jaguar

• Tennis
  • Australian Open men's singles: Mervyn Rose defeats Rex Hartwig 6-2 0 6 6-4 6-2
  • Australian Open women's singles: Thelma Coyne Long defeats Jenny Staley Hoad 6-3 6-4
  • Davis Cup: Australia is defeated by the United States 2 3 in the 1954 Davis Cup final
  • Wimbledon: Rex Hartwig and Mervyn Rose win the Gentlemen's Pairs
  • Wimbledon: Jaroslav Drobn defeats Ken Rosewall 13-11 4 6 6-2 9-7 in the Gentlemen's Singles

• Yachting
  • Kurrewa IV takes line honours and Solveig IV wins on handicap in the Sydney to Hobart Yacht Race

Births

• 25 January Kay Cottee, sailor
• 26 January Kim Hughes, cricketer
• 27 April Mark Holden, singer and media personality
• 2 May Don Cameron, water polo player and coach
• 19 May Phil Rudd, musician
• 27 May Pauline Hanson, politician
• 12 August Rob Borbidge, Premier of Queensland
• 2 September - Gai Waterhouse, horse trainer
• 13 September Steve Kilbey, musician
• 20 September - James Moloney, author
• 15 October Steve Bracks, Premier of Victoria
• 12 November Paul McNamee, tennis player
• 26 November Jacki MacDonald, media personality
• 29 November Steve Rogers (died 2006), Rugby league footballer

Deaths

• 19 September Miles Franklin (born 1879), writer
• 14 November Inigo Jones (born 1872), meteorologist
• 22 November Roy Rene (born 1892), comedian