ObjectiveQuantify change in wellbeing and health‐related quality‐of‐life (HRQoL) in Aboriginal and Torres Strait Islander adults pre and post Australia's initial COVID‐19 lockdown. MethodsAboriginal and Torres Strait Islander adults completed an online survey at Time 1 (October–November 2019; before the initial Australian COVID‐19 outbreak) and Time 2 (August–September 2020; after the first Australian lockdown). We assessed wellbeing using a visual analogue scale (VAS) and HRQoL using the Assessment of Quality of Life (AQoL‐4D) instrument. Participants who completed both surveys (n=42) were included to quantify change in outcomes over time and by comorbidity and demographic factors. ResultsMean reduction in wellbeing over time was 6.4 points (95%CI −14.2 to 1.4) and was associated with age (18–54yo), financial instability and mental health comorbidity. Mean reduction in HRQoL over time was 0.06 (95%CI −0.12 to 0.01) and was associated with financial instability, high physical comorbidity level and mental health comorbidity. ConclusionsAboriginal and Torres Strait Islanders aged 18–54yo, who were financially unstable or had elevated comorbidity during COVID lockdowns experienced greater reductions in wellbeing and HRQoL. Implications for public healthAs the COVID‐19 pandemic continues in Australia, both urgent and forward planning is needed, especially for the priority groups identified.