Easy Cafe
$10
Underground bubble tea cafe with indoor swing benches. Also serves Taiwanese food. Open till 11pm.
Dessert Story
195 Little Bourke Street, Melbourne or 305 Swanston Street, Melbourne or other locations
$10 - $15
Good Taiwanese style hot and cold desserts. If you don't like tapioca and sweet but starchy soupy Asian desserts this is not the place for you. Open till till at least 12am, some days later.
Yochi
194 Faraday Street, Carlton and other locations
$10 - $20
Great frozen yogurt place sells by weight of your order. Lots of good yogurt flavors and great selection of FRESH toppings. I love the Halva here. Technically just outside of the CBD. Open till 11pm.
Pidapipo Gelateria
$10 - $15
Great upstart gourmet Gelato. Technically just outside the CBD.
Frozen by 1000 Blessings
Melbourne Central Level 2 Shop 209a, Melbourne and other locations
$10 - $20
Great frozen yogurt option with good selection of fresh toppings in the CBD. Not open late.
Gelateria Primavera
$10 - $15
Part of Spring Street Grocers, I think it's the best gelato in Melbourne (Big Call). Try the pistachio flavor. Also has a talk in Cheese Cellar downstairs. Open till 12am.