The S&P/ASX 300 Index (ASX: XKO) shares rose 7.17% and delivered a total return, including dividends, of 10.66% in 2025.
The ASX 300 slightly outperformed the S&P/ASX 200 Index (ASX: XJO), which lifted 6.8% and gave a total return of 10.32%.
Here are four ASX 300 shares that outperformed the market average by a mile.
In fact, they more than doubled in value.
Let's take a look.
4 ASX 300 shares that more than doubled in value last year
Electro Optic Systems Holdings (ASX: EOS)
The Electro Optic Systems share price leapt by an astounding 632% to finish 2025 at $9.44 per share.
This ASX 300 industrial share is benefiting from the global defence spending megatrend.
Electro Optic Systems produces advanced weapon systems, counter-drone solutions, and space domain awareness programs.
Predictive Discovery Ltd (ASX: PDI)
This ASX 300 gold share skyrocketed 220% to close the year at 74 cents apiece.
Predictive Discovery is developing gold deposits within the Siguiri Basin in Guinea.
Its key asset is the Tier-1 Bankan Gold Project. Bankan has a mineral resource estimate of 5.53Moz.
Predictive Discovery completed the Definitive Feasibility Study (DFS) in June last year.
The Guinea Government has approved the environmental Impact assessment, and the exploitation permit application is in the final stages.
Kingsgate Consolidated Ltd (ASX: KCN)
Fellow gold explorer Kingsgate joined the ASX 300 in the September quarter rebalance.
The Kingsgate share price flew 340% to finish at $5.63 per share on 31 December.
Kingsgate is an Australian gold and silver producer and the owner and operator of the Chatree Gold Mine in central Thailand.
The ASX 300 miner also owns and operates the Nueva Esperanza Gold-Silver Project in the Maricunga Belt in northern Chile.
Liontown Ltd (ASX: LTR)
The Liontown share price roared 197% higher to close at $1.58 per share in 2025.
The ASX 300 lithium share surged on the back of rising lithium prices, which began rebounding midway through 2025.
The lithium carbonate price is at a two-year high, up 105% over the past 12 months.
Renewed global demand and low supply are powering this turn of events.
Lithium prices experienced dramatic price falls in 2023, followed by 18 months of stagnation in 2024 and the first half of 2025.
There is a greater demand for lithium now to power batteries and new infrastructure as part of the green energy transition.
EV manufacturing is also back on the rise, with EVs outselling traditional cars in China for the first time last October.
China is also trying to stabilise lithium prices by implementing policy measures to avoid overproduction.
