It is the last geological period of the Proterozoic Eon . The Edicaran is followed by the Cambrian , the first period of the Paleozoic Era and the Phanerozoic Eon . The Ediacaran Period ( ; named after the Ediacara Hills of South Australia ) is the last geological period of the Neoproterozoic Era and of the Proterozoic Eon , immediately preceding the Cambrian Period , the first period of the Paleozoic Era and of the Phanerozoic Eon .