Unlike other lungfish species that have paired lungs, Australian Lungfish have a single lung with many blood vessels. They primarily rely on their gills for breathing, only using their lung when in poorly oxygenated waters.

Australian Lungfish are carnivorous, nocturnal hunters with limited vision. Instead of relying on sight, they use their sense of smell and electroreception to detect weak electric fields emitted by prey. Typically foraging near plant matter at night, they feed on a variety of aquatic animals, including frogs, small fish, tadpoles, snails, shrimp, and earthworms.

Facing growing pressure from habitat loss and the decline of breeding sites due to human activities, Australian Lungfish are listed as Endangered in the IUCN Red List. Capture without a permit is prohibited, and strict rules are in place to regulate their trade.