Water police rescued the crew of Huntress on December 28 after the 40-foot vessel struck an unidentified object that sheared off part of its rudder.
The yacht was left to drift at sea and has washed up near Christmas Beach on Cape Barren Island in Bass Strait.
Marine and Safety Tasmania earlier this week issued an alert saying the yacht was 15 nautical miles off the state's northeast coast and salvage operations were expected to commence on Wednesday.
It confirmed later on Wednesday the yacht had beached on Cape Barren Island and salvage attempts would be made on Saturday.Â
The Aboriginal Land Council of Tasmania posted images on social media of the vessel washed ashore.
"We're hoping salvage is swift, safe and successful as she poses a risk (to) remote and pristine country," the organisation said.
Huntress was forced to retire from the Sydney to Hobart race after setting off from the NSW capital on Boxing Day.
Skipper Victoria Logan and her seven crewmates suffered a mishap 80 nautical miles east of Flinders Island on the morning of December 28.
She told AAP last week she was downstairs when the yacht's driver, her partner Brent, felt a thud through the steering as the vessel was riding a wave.
"The wheel got ripped out of his hand and the boat started breaching violently. It took a few minutes to work out, but we realised we lost steerage.
"We realised the rudder had sheared off and we could see it floating next to the boat, off into the distance."
Logan said Huntress likely hit a sunfish. The yacht attempted the Sydney to Hobart in 2021 but failed to finish because of mainsail damage.
Marine and Safety Tasmania has been contacted for comment.
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