<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-11-14</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001873875</issuerCik>
        <issuerName>Incannex Healthcare Inc.</issuerName>
        <issuerTradingSymbol>IXHL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001997460</rptOwnerCik>
            <rptOwnerName>Latham Joel</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O INCANNEX HEALTHCARE INC.</rptOwnerStreet1>
            <rptOwnerStreet2>RIALTO SOUTH TWR LVL 23, 525 COLLINS ST</rptOwnerStreet2>
            <rptOwnerCity>MELBOURNE</rptOwnerCity>
            <rptOwnerState>C3</rptOwnerState>
            <rptOwnerZipCode>VIC 3008</rptOwnerZipCode>
            <rptOwnerStateDescription>AUSTRALIA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CEO and President</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $0.0001 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2025-11-14</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>22608692</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>24186177</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Includes the following shares of restricted stock (the &quot;Shares&quot;) granted on November 14, 2025, under the Issuer's 2023 Equity Incentive Plan, (i) 5,652,173 Shares that vest in full on December 10, 2025, (ii) 5,652,173 Shares that vest in full on June 30, 2026, (iii) 5,652,173 Shares that vest in full on June 30, 2026 and (iv) 5,652,173 Shares that vest in full on June 30, 2027.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Joel Latham</signatureName>
        <signatureDate>2025-11-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
