The 6-foot-8 Cambage took a pass from Kristi Harrower at the free throw line and after a couple of dribbles slammed home the one-handed dunk with 6:14 left in the third quarter. The basket gave Australia a 41-33 lead.
FIBA couldn't confirm if Cambridge was the first woman to dunk in an Olympic contest. Cambage and her Australian teammates knew it was a rare moment.
They jumped off the bench cheering and Cambage had a big smile as she ran back on defence.
The 20-year-old was the second pick of the Tulsa Shock in the 2011 WNBA draft. She missed the first part of the WNBA season to train with Australia.