Lucky Bay is a locality in the District Council of Franklin Harbour, on the Spencer Gulf coast of Eyre Peninsula in South Australia. It is a terminus for SeaSA's Spencer Gulf passenger ferry and a transshipping port for grain export operated by T-Ports. Lucky Bay is located immediately north-east of the Franklin Harbour wetlands. Its adjacent waters lie within the outer boundary of the Franklin Harbor Marine Park. A ferry service crossing Spencer Gulf from Lucky Bay to Wallaroo commenced in 2006, and the dirt road connecting Lucky Bay with the Lincoln Highway was sealed in 2008.

The District Council of Franklin Harbour is a local government area in South Australia on the Eyre Peninsula. Cowell is the major population centre of an agricultural district based on farming wheat and sheep, supplemented by a fishing and oyster farming industries. The district's coastal towns including Cowell and Lucky Bay attract large numbers of tourists during school holidays, with the new Spencer Gulf ferry service increasing traffic to these areas since 2006.