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The race was won by Australian Cameron Meyer of the Orica–GreenEDGE cycling team. Meyer succeeded his teammate Simon Clarke, who won the 2014 edition of the race and finished fourth in the 2015 race. Meyer had taken over the overall lead following a victory in the first road stage of the race and was able to defend his lead through the remaining stages. The other riders to finish on the overall podium were Patrick Bevin and Joseph Cooper (both Avanti Racing Team).
In the 2015 Herald Sun Tour, four different jerseys were awarded. For the general classification, calculated by adding each cyclist's finishing times on each stage, and allowing time bonuses for the first three finishers at intermediate sprints and at the finish of mass-start stages, the leader received a yellow jersey. This classification was considered the most important of the 2015 Herald Sun Tour, and the winner of the classification was considered the winner of the race.
Additionally, there was a points classification, which awarded a green jersey. In the points classification, cyclists received points for finishing in the top 4 in a mass-start stage. For winning a stage, a rider earned 10 points, with 8 for second, 6 for third and 4 for fourth. Points towards the classification could also be accrued at intermediate sprint points during each stage; these intermediate sprints also offered bonus seconds towards the general classification. There was also a mountains classification, the leadership of which was marked by a yellow-and-black jersey. In the mountains classification, points were won by reaching the top of a climb before other cyclists, with more points available for the higher-categorised climbs.
The fourth jersey represented the young rider classification, marked by a white-and-blue jersey. This was decided in the same way as the general classification, but only riders born after 1 January 1992 were eligible to be ranked in the classification. There was also a classification for teams, in which the times of the best three cyclists per team on each stage were added together; the leading team at the end of the race was the team with the lowest total time, and its team members were given a white jersey on the final podium.