Elwood is a suburb in Melbourne, Victoria, Australia, 8 km south from Melbourne's central business district. Its Local Government Area is the City of Port Phillip. At the 2006 Census, Elwood had a population of 13,785.
Elwood Beach is a popular bayside beach destination during summer where the beaches are used recreationally for windsurfing, cycling, touch football, cricket and walking.
The suburb has experienced ongoing gentrification, known for its mix of Edwardian and Interwar architecture character, its beaches and its leafy streets many of which are lined by London Plane trees.