Verstappen was on a nine-race winning streak after winning the first two Formula 1 races of the season in Bahrain and Saudi Arabia. Ferrari's Carlos Sainz halted Red Bull's Formula 1 winning run by winning the Australian Grand Prix barely two weeks after missing the previous race in Saudi Arabia due to emergency appendicitis surgery. Sainz took advantage of Max Verstappen's early retirement. Sainz, who started alongside Verstappen at the front, held his position at the first corner but passed the Dutchman at turn nine of the second lap. He then took over when his competitor retired two laps later with a burning mechanical failure. Verstappen was on a nine-race winning streak after winning the first two Formula 1 races of the season in Bahrain and Saudi Arabia.

Ferrari's first 1-2 finish since the 2022 Bahrain Grand Prix was from Sainz, who finished ahead of teammate Charles Leclerc. McLaren's Lando Norris secured his first podium at Albert Park by finishing third. Australian Oscar Piastri, who is a teammate, finished fourth. 

George Russell, the driver representing Mercedes, crashed at turn seven, which meant the race ended under a virtual safety car that prevented racing for much of the final lap. Red Bull's Sergio Pérez completed the top five, dropping just one place from his starting position of sixth after impeding Nico Hülkenberg during qualifying. Sainz, who will be replaced at Ferrari by Lewis Hamilton from 2025, was ecstatic to have triumphed against the odds for the third time in his career - the first since the Singapore Grand Prix the previous year.