To reduce Australians’ intake of key risk nutrients, the Australian Government Healthy Food Partnership Reformulation Program works with food manufacturers to voluntarily reduce sodium, saturated fat and sugar in processed foods. Many of Australia’s largest food manufacturers participate in the program. The Reformulation Program aims to set ambitious, evidence-informed reformulation targets that meaningfully improve the food supply, while remaining technically feasible and commercially realistic to encourage broad food industry participation. Maintaining this balance is critical as the program’s success depends on setting targets that drive measurable health benefits without discouraging companies from voluntarily participating. Following the initial implementation period (2020-2025/26), the Department of Health, Disability and Ageing undertook a comprehensive review of the reformulation targets to ensure they remain fit-for-purpose, feasible and aligned with current evidence and dietary patterns. The review was informed by food composition data provided by participating companies and food label data obtained from the FoodSwitch database1, international benchmarks, and national food and nutrient intake data2. All reformulation categories and targets underwent a preliminary assessment to identify whether adjustment was indicated. Categories and targets were designated into three groups: targets to strengthen (i.e. lower nutrient thresholds), categories and targets to adjust (i.e. target relaxed, definition amended or category split) or targets to maintain. For the first two groups, an in-depth analysis was undertaken to determine potential revisions. Gaps in target coverage were also considered (i.e. dietary sources of sodium, sugar, saturated fat not captured by the Reformulation Program), and new product categories were proposed. Nutrient distributions within product categories were analysed to inform revised targets. A target was considered feasible when at least one-third of products met a proposed target. Multi-modal nutrient distributions indicated where categories needed to be divided and more specific targets developed. Revised and newly proposed categories and targets were subject to a structured consultation process with food industry and public health stakeholders. Submissions received (n = 12) were analysed to identify areas of consensus and divergence. Consultation feedback informed refinements to proposed reformulation categories and targets to support implementation, improve feasibility and continue to attract voluntary participation. Key changes included introducing upper limits for two categories that are reaching the limits of reformulation. This review demonstrates that iterative, evidence-informed policy design is critical to balancing public health impact with technical feasibility and voluntary industry uptake. Ongoing monitoring, increased industry participation and alignment with broader policy objectives will be essential to achieve meaningful reductions in population intakes of key risk nutrients.