The incident occurred at a Country Women's Association meeting with Morrison on the NSW-Victorian border.
Police allege the woman struck Morrison on the back of his head with the egg.
"The Prime Minister's security team quickly detained the woman, and in the act of restraining her, a 70-year-old woman was knocked to the ground," police said.
She was granted strict conditional bail to appear at Albury Local Court on May 27.
Seconds after the attempted egging, security officers tackled a woman in a headlock and dragged her from the PM's vicinity, then as she stood up, walked her from the venue.
The woman appeared to have struck the PM on the head, but the egg didn't break.
This gave rise to comments on social media that it was either hard-boiled or that Morrison's head wasn't hard enough.
In audio captured after the incident and played on the Ray Hadley Morning Show, Egg Girl spoke to two reporters including Macquarie National News political editor Michael Pachi.
"Why did you knock over an old lady and throw an egg at the Prime Minister?" one reporter asked her shortly afterwards.
"Didn't knock over an old lady so there's the first lie to be spun out of that," she replied.
"But why did you think it was necessary to come and egg the Prime Minister," Pachi asked.
"What's the Prime Minister done wrong to make you want to commit this kind of aggressive act against him?" the other reporter said.
"Aggressive?" the woman replied. "This is the most harmless thing you can do."
"What throw an egg at a Prime Minister?" Pachi said.
"You guys are idiots," Egg Girl laughed. "Get me off the camera."
"But why does he deserve it? You could at least give us an explanation," Pachi asked.
"He deserves it, he deserves a lot worse actually … Just go on Google and follow his Twitter, whatever. You tell me. It f***ing speaks for itself," she added.
"Have you seen his video to Manus Island?"
Morrison responded quickly to the attack on Twitter, saying he will "stand up to thuggery" of "cowardly activists".
He said "our farmers have to put up with these same idiots who are invading their homes and farms".
This gave rise to chatter on Twitter that it was vegans who staged the recent farm invasions and that a vegan — who by definition doesn't eat eggs — wouldn't have protested with one.
The protest follows the egging of conservative politician Senator Fraser Anning who blamed Muslim migrants in the wake of the Christchurch mosque massacres.
The protester in that case was dubbed "Egg Boy" and became something of a global folk hero.
The 17-year-old Will Connolly did manage to break an egg on the head of Anning but avoided criminal charges and received a caution.
Senator Anning also avoided being charged for striking Connolly, but a man who attacked him in the immediate aftermath of the egging was charged with assaulting the teenager.
