The museum is located at the corner of William Street and College Street in the Sydney central business district, in the City of Sydney local government area of New South Wales, and was originally known as the Colonial Museum or Sydney Museum. The museum was renamed in June 1836 by a sub-committee meeting, when it was resolved during an argument that it should be renamed the "Australian Museum". The Australian Museum building and its collection was added to the New South Wales State Heritage Register on 2 April 1999. The museum is mentioned in the poem William Street by notable Australian poet Henry Lawson.
