Abstract We present new Karl G. Jansky Very Large Array (VLA, 1.5 GHz) radio data for the giant elliptical galaxy IC 4296, supported by archival radio, X-ray (Chandra, and XMM–Newton) and optical (SOAR, and HST) observations. The galaxy hosts powerful radio jets piercing through the inner hot X-ray emitting atmosphere, depositing most of the energy into the ambient intracluster medium (ICM). Whereas the radio surface brightness of the A configuration image is consistent with a Fanaroff–Riley Class I system, the D configuration image shows two bright, relative to the central region, large (${∼ } 160\, \rm {kpc}$ diameter), well-defined lobes, previously reported by Killeen et al., at a projected distance $r\gtrsim 230\, \rm {kpc}$. The XMM–Newton image reveals an X-ray cavity associated with one of the radio lobes. The total enthalpy of the radio lobes is ${∼ }7\times 10^{59}\, \rm {erg}$ and the mechanical power output of the jets is ${∼ } 10^{44}\, \rm {erg\, s}^{-1}$. The jets are mildly curved and possibly rebrightened by the relative motion of the galaxy and the ICM. The lobes display sharp edges, suggesting the presence of bow shocks, which would indicate that they are expanding supersonically. The central entropy and cooling time of the X-ray gas are unusually low and the nucleus hosts a warm Hα + [$\rm{N\,{\small II}}$] nebula and a cold molecular CO disc. Because most of the energy of the jets is deposited far from the nucleus, the atmosphere of the galaxy continues to cool, apparently feeding the central supermassive black hole and powering the jet activity.