Elizabeth Street is one of the main streets in the Melbourne central business district, Victoria, Australia, part of the Hoddle Grid laid out in 1837. It is presumed to have been named in honour of governor Richard Bourke's wife.

General Sir Richard Bourke, KCB, was an Irish soldier, who served in the British Army and was Governor of New South Wales from 1831 to 1837. As a lifelong Whig (Liberal), he encouraged the emancipation of convicts and helped bring forward the ending of penal transportation to Australia. In this, he faced strong opposition from the landlord establishment and its press. He approved a new settlement on the Yarra River, and named it Melbourne, in honour of the incumbent British prime minister, Lord Melbourne.