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A sheep station is a large property (station, the equivalent of a ranch) in Australia or New Zealand, whose main activity is the raising of sheep for their wool and/or meat. In Australia, sheep stations are usually in the south-east or south-west of the country. In New Zealand the Merinos are usually in the high country of the South Island. These properties may be thousands of square kilometres in size and run low stocking rates to be able to sustainably provide enough feed and water for the stock.
In Australia, the owner of a sheep station may be called a pastoralist, a grazier, or formerly a squatter (as in "Waltzing Matilda"), when their sheep grazing land was referred to as a sheep run.