The twenty-five year old Van Nguyen was hanged shortly before dawn local time at Changi Prison in Singapore.
News of the execution was confirmed in an emailed statement by the Singaporean government.
Last minute appeals for clemency fell on deaf ears. The Australian Prime Minister John Howard tried no fewer than five times to have the execution stopped.
The Australian Attorney General Philip Ruddock described the hanging as "barbaric" .
Click here to listen.