South Yarra is an inner suburb of Melbourne, Victoria, Australia, 4 km south-east of Melbourne's Central Business District, located within the Cities of Melbourne and Stonnington local government areas. South Yarra recorded a population of 25,147 at the 2016 Census.
The area east of Punt Road is in the City of Stonnington and the area to the west is in the City of Melbourne.
The main shopping region of South Yarra runs along Toorak Road and Chapel Street. Trade along these two arteries are focused on trendy and upmarket shopping, restaurants, nightclubs and cafe culture. The area of South Yarra centred along Commercial Road was for several decades one of Melbourne's gay villages.
South Yarra is also home to some of Melbourne's most prestigious residential addresses. Residential land price records (per square metre) have been set by properties in Domain Road, Walsh Street and Fairlie Court.