The first operational service medal for Australian or New Zealand personnel to be designed and produced in Australia. The Vietnam Medal was manufactured by the Royal Australian Mint.

Instituted in 1968 to recognise New Zealanders who served in the Vietnam War. It was awarded for qualifying periods of 1 day on land, 1 operational sortie by air, 28 days at sea off the coast or 30 days cumulative visits, between 29 May 1964 and 27 January 1973 (the latter date was the date of the signing of the Paris Accords).

New Zealand and Australia jointly developed and instituted the Vietnam Medal. However, there is a separate Royal Warrant for each country. Australian military personnel and some Australian civilians were awarded the Vietnam Medal by the Australian government.