This street was originally called Rudolph Street. It is thought to have been named for Rudolph Aloys de Castella, the son of Paul de Castella of Yering, who died in 1888 when he was 29 years of age.

Until the 1970s the gravel road was primarily bordered by paddocks. It was sealed with bitumen in February 1985. An extension of this road continues across Yarraview Road but has never been opened and is leased for grazing.

On Sunday 2 May 1948 a Commemoration Service was conducted by the Yarra Glen & District Tourist &  Progress Association and the RSSILA at which the avenue of oak trees was dedicated as a memorial to those who lost their lives in the two world wars. The trees were donated by Major E Lang.

The street was re-named Anzac Avenue at some time between 1948 and 1968 although the former name was still in use in 1971.

Sources: Yarra Glen and District Historical Society Newsletter, no.20, May 2006