Gisborne South, also known as Couangalt, is a locality in the Macedon Ranges Shire, in Victoria, Australia, north west of the city of Melbourne. At the 2006 census, Gisborne South had a population of 742.
Gisborne South has never had a Post Office under that name. The Cabbage Tree office within the locality opened on 6 July 1867, was renamed Yangardook in April 1875 and Couangalt in September 1875. It closed in 1895, reopened in 1913 and closed in 1965.