High resolution gravity and magnetic data have been acquired across Lake Coragulac, a Quatemary maar volcano located in the Newer Volcanics Province of south-eastem Australia. A gravity low is observed across the maar crater, with several local gravity highs identified in the centre of the crater, often with corresponding magnetic anomalies. Geophysical data has been integrated with geologic observations and subjected to 2D forward and 3D inverse potential field modelling. Modelling has revealed a complex subsurface maar structure with four coalesced diatremes and several intrusive dykes identified. The modelled diatremes are shallow (maximum of 290 m deep) with the margins having a similar density to the host rock, while the diatreme centre is often denser, indicating that higher volumes of volcanic debris are present.