Australia chased down New Zealand's 172/4 with seven balls to spare.
In the all-important game, New Zealand posted 172/4 on the board after being asked to bat first. Skipper Kane Williamson top-scored for the Kiwis with 85 off 48 balls, including 10 fours and 3 sixes.
Josh Hazlewood was the stand-out bowler for Australia, claiming three wickets by conceding only 16 runs in his four overs.
In reply, Australia lost captain Aaron Finch (5) cheaply but the duo of David Warner and Mitchell Marsh added 92 runs for the second wicket to put the team in a commanding position.
Trent Boult broke the partnership by removing Warner for 38-ball 53. However, Marsh held the one end firmly and shared an unbeaten 66-run stand for the third wicket with Glenn Maxwell to take Australia over the line with seven balls to spare.
While Mitchell Marsh remained unbeaten on 50-ball 77 (6 fours and 4 sixes), Maxwell returned with 28 not out off 18 balls.
Cricket fraternity lauded the Australian team for their stellar display in the summit clash and congratulated them on winning their maiden T20 World Cup trophy.
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