Critics within Turnbull’s own conservative Liberal Party earlier in the week said his support for a republic would be damaging to the government.
But Turnbull said there was no appetite among Australians for another referendum during Queen Elizabeth’s reign.
“The less party political the republican movement is, the broader its base, the deeper its grassroots, the better positioned it will be when the issue becomes truly salient again,” the Australian leader added.
Opposition Labor leader Bill Shorten appeared to criticise Turnbull’s lack of action on Twitter following the speech.