Over the past three decades, Australia has seen more than a 100% increase in its rate of incarceration. A sizable part of this has come from the rise in incarcerated indigenous people. Australia also experiences problems related to high rates of recidivism, the increasing use of custodial sentences for parole violations, and the use of incarceration for minor offenses such as traffic violations. In response to these problems, a growing number of policy makers, public and private organizations, and academics have pushed for the development and implementation of justice reinvestment (JR) initiatives in Australia. This article provides an overview of JR. It highlights some of the more pertinent problems facing the justice system, offenders, victims of crime, and local communities in regards to the use of punishment and incarceration in Australia. It then considers the degree to which JR may or may not be able to deliver on some or all of its promises, in particular problems that it faces in terms of implementation, use, and long-term viability in Australia.