The winners are a mystery, a statement from The Lott said, but the tickets were bought in New South Wales and Victoria.
The winning numbers in Powerball draw 1357 on Thursday, May 19 were 15, 34, 5, 11, 28, 8 and 27. The Powerball number was 3.
One entry was purchased from a NSW Lotteries outlet in the City of Fairfield, while the other entry was purchased from a Tatts outlet in the City of Brimbank.
Neither entry was registered so officials have yet to discover who are the holders of the tickets that have each won $40 million.
“What an incredible night for these two players and we hope they check their tickets soon. We can’t wait to speak to them and get their prize claim process underway,” The Lott spokesperson James Eddy said.
“Check your tickets Australia. There are 40 million reasons why every player should rush and check those numbers.
“Who knows, it could be you.”
In addition to the two division one winners, there were 2,696,617 winners across divisions two to nine in Thursday’s draw who collectively took home more than $47.98 million in prize money.
That includes eight division two winners who each took home $166,104.60.
There have been 167 division one winners this financial year.