The 1970 Australian Formula 2 Championship was an Australian motor racing title for drivers of racing cars complying with Australian Formula 2 regulations.[1] The title, which was recognised by the Confederation of Australian Motor Sport as the fourth Australian Formula 2 Championship,[2] was decided over a single 40-lap, 60miles race, staged at the Lakeside circuit in Queensland, Australia on 27 September 1970.[3] There were seven starters in the event.
The championship was won by Max Stewart driving a Mildren Waggott.
| Position | Driver | No. | Car | Entrant | Laps | |
| 1 | Max Stewart | 6 | Mildren Waggott TC4V | Alec Mildren Racing | 40 | |
| 2 | John Walker | Elfin | Gilbert Motor Bodies | 39 | ||
| 3 | Jack Bono | Brabham BT6 Ford[4] | J. Bono | 38 | ||
| 4 | Ken Goodwin | Rennmax | Peter Clarke Surfboards | 38 | ||
| 5 | Vern Hamilton | 65 | Elfin 600B | Vern Hamilton | 38 | |
| 6 | Brian Power | Rennmax | Brian Power Shell Racing | 38 | ||
| DNF[5] | Don Uebergang | Elfin 600B |