During its brief lifespan, Shadowed Realms was the only professional online magazine dedicated to flash fiction in Australia. Published by Brimstone Press and edited by Angela Challis, the magazine specialised in dark speculative fiction, especially supernatural or psychological tales. New issues were published online every two months, with each issue comprising five to eight flash stories. Recognised by the Science Fiction and Fantasy Writers of American (SFWA) magazine, Shadowed Realms published authors such as Poppy Z. Brite, Richard Harland (q.v.), Robert Hood (q.v.), Terry Dowling (q.v.), and Kirstyn McDermott (q.v.). Lee Battersby's (q.v.) story 'Pater Familias' (issue 3) was the first electronic/flash-fiction story to win the Aurealis Award.

The magazine released two special issues during its run. The first was issue 6: the Continuum 3 convention and the Australian Horror Writers Association (AHWA) launch issue. This featured Continuum 3 guests Poppy Z. Brite and Richard Harland, along with Robert Hood, Terry Dowling, and the winners of the inaugural AHWA flash fiction competition. The second special issue was issue 9 (the 'Redback' themed issue), featuring nine prominent female horror/speculative fiction writers, including K J Bishop (q.v.), Kaaron Warren (q.v.), Deborah Biancotti (q.v.), and Kirstyn McDermott.

The last issue to be published was issue 11 (October 2006).