Vele Srakane is located in the City of Mali Lošinj, in Primorje-Gorski Kotar County at an elevation of 2 meters above sea level and it covers the area of 1.56 km² (0.60 sq. miles). According to the 2011 census report, there were only three inhabitants left. It is entirely populated by Croats. Nearby places: Male Srakane, Ćunski, Susak, Unije, Sveti Jakov, Nerezine, Mali Lošinj, Osor, Punta Križa and Veli Lošinj.