After more than 140 years, the production taps will be turned off at the home of James Boag's beer.
Owner Lion, a subsidiary of Japanese conglomerate Kirin, has blamed declining beer sales nationwide as one reason for its shutdown of the brewery in Launceston in northern Tasmania.
The brewery opened in 1881, with Scotland's James Boag and his son taking over two years later.
Lion said the brewery was currently operating at about one-fifth of its capacity and would close in November, with James Boag's production to continue on mainland Australia.
"Long-term decline in the national beer market has caused the brewery to run significantly under capacity for many years," it said in a statement on Tuesday.
"This, combined with significant cost inflation, means the brewery is no longer viable."
