This study provides an overview of the history, current status, and future challenges to the Australian university system through the eyes of its leaders. The idea for this project surfaced at the Annual President’s meeting of the Association of Pacific Rim Universities in Canberra in Spring 2014 at which the Presidents/Vice-Chancellors of Australian National University, the University of Melbourne and the UNSW Sydney shared their observations about the issues and challenges facing the Australian higher education with their colleagues from approximately 30 universities from around the Pacific Rim.