The Cranbourne meteorite is an octahedrite iron meteorite. It is the second largest meteorite found in Australia after the Mundrabilla meteorite, but at the time of discovery it was the largest known iron meteorite in the world. It is classified as a main group IAB meteorite. It was reported in December 2024 that traces of the mineral muonionalustaite, first discovered in 2021, had been discovered on a fragment of the meteorite held by the Melbourne Museum.