The release of Australia's Oceans Policy (AOP) in 1998 was recognised in Australia and internationally as a milestone in marine resource management. This policy set out for the first time a comprehensive, national approach to ecosystem based ocean management that covered Australia's vast ocean domain. It also sought to integrate sectoral and jurisdictional interests through the establishment of new institutions and implementation methods. During the ten years of implementation the original aims of the policy have changed reflecting a lack of integration; Federal government ownership of the policy; institutional restructuring; and a lengthy implementation process. This paper analyses these changes and discusses what can be learned from the development and implementation of this 'new' policy.