HMAS Anzac is the first of her class and a modern warship, capable of operating in a multi-threat environment. Anzac's design is based on the German Meko 200 Class that uses modular construction methods. A feature of this method was the ability to share the construction of the 8 Australian and 2 New Zealand vessels throughout Australia and New Zealand.

Anzac is fitted with an advanced package of air surveillance radars; hull mounted sonar and electronic support systems that interface with state-of-the-art weapons systems. Anzac's armament comprises a five-inch (127-mm) gun, Harpoon missiles, Evolved Sea Sparrow Missiles and Ship Launched Torpedoes.

The ship can embark a multi-role Sikorsky S-70B-2 Seahawk helicopter to enhance anti-submarine, anti-surface warfare and Search and Rescue capabilities. Embarkation of a helicopter also provides the ship with the capability to deliver air-launched torpedoes.