|U-534 was a Type IXC/40 U-boat of the Kriegsmarine and was built in 1942 in Hamburg-Finkenwerder by Deutsche Werft AG.|
She was sunk on 5 May 1945 by 10 depth charges launched from a British Liberator aircraft. She sank in the waters of Kattegat north-east of Anholt, in position 56°39′N, 11°48′E.
In 1993 Danish media millionaire, Karsten Ree, sponsored the raising of the submarine amid rumours of nazi gold and intense media coverage. Hopes of gold treasure were disappointed, however, as the ship contained nothing but what was to be expected. In 1996 she was transported to Birkenhead, UK and forms part of the Warship Preservation Trust's collection in the Birkenhead docks.
The Museum closed 5 February 2006 and the ship has since been left to rust, although the possibility of having it returned to Denmark, possibly in an exhibition together with the steam frigate Jylland in Ebeltoft, has been discussed.