ObjectivesTo develop an online treatment decision aid (OTDA) to assist patients with low‐risk prostate cancer (LRPC) and their partners in making treatment decisions.Patients and methodsNavigate, an OTDA for LRPC, was rigorously co‐designed by patients with a confirmed diagnosis or at risk of LRPC and their partners, clinicians, researchers and website designers/developers. A theoretical model guided the development process. A mixed methods approach was used incorporating (1) evidence for essential design elements for OTDAs; (2) evidence for treatment options for LRPC; (3) an iterative co‐design process involving stakeholder workshops and prototype review; and (4) expert rating using the International Patient Decision Aid Standards (IPDAS). Three co‐design workshops with potential users (n = 12) and research and web‐design team members (n = 10) were conducted. Results from each workshop informed OTDA modifications to the OTDA for testing in the subsequent workshop. Clinician (n = 6) and consumer (n = 9) feedback on usability and content on the penultimate version was collected.ResultsThe initial workshops identified key content and design features that were incorporated into the draft OTDA, re‐workshopped and incorporated into the penultimate OTDA. Expert feedback on usability and content was also incorporated into the final OTDA. The final OTDA was deemed comprehensive, clear and appropriate and met all IPDAS criteria.ConclusionNavigate is an interactive and acceptable OTDA for Australian men with LRPC designed by men for men using a co‐design methodology. The effectiveness of Navigate in assisting patient decision‐making is currently being assessed in a randomised controlled trial with patients with LRPC and their partners.