This chapter concentrates on top innovative talent cultivation policy in Australia. Meritocracy education in Australia began in the 1970s, and the policy of meritocracy education has gone through three stages of initial development, re-development and new development, and has gradually developed and accumulated rich experience. The definition of talent is based on Gagne’s differentiated talent education model. In terms of organization, Australia has established a complete system of elite education organizations, including the Australian Association for Elite Education at the national level, the Australian Elite Support Center, the Elite Education Research Resource Information Center, and the elite Education Association at the state and territory levels. Regarding operation mechanism, the school training mode includes special schools for talents and ordinary schools for talents classes or projects; The assessment selection process follows Gagne’s differentiated gifted education model, combining quantitative and qualitative tools to collect data from multiple sources. When it comes to training strategies, schools adopt curriculum differentiation, group learning and accelerated education. As for resource allocation, Australia provides resource support for talent education by strengthening the provision of teachers, coordinating external education resources, and drawing on psychological research results. In terms of monitoring and evaluation, the states and territories have set up their own specialized agencies responsible for monitoring and evaluation. However, the main challenges exist at the same time, including cultural and psychological bias, regional development imbalance, lack of connection between basic education and higher education, shortage of professional meritocracy teachers, and over-reliance on standardized tests. The main ways to solve the challenges can be explored from the support of information and communication technology, the supplement of professional teachers, and the development of new assessment tools.