Bobridge covered about 51.3 kilometres in his bid to pass the record of 51.852km, set on October 30 last year by Austrian Matthias Brundle.
The Australian needed to ride 208 laps of the DISC Velodrome in Melbourne and finished the 60 minutes with about 205 laps.
Bobridge made a strong start and by halfway he was on target with 104 laps completed.
He lifted noticeably in the last 10 minutes, but it was not enough.