The All Blacks started their defence of the TriNations title by beating the Wallabies by 22 points to 16 at Eden Park in Auckland.
The All Blacks win extended a 23-year, 11-match losing streak for the Wallabies at Eden Park where they last won in 1986.
The Wallabies started off the better team and scored the first try but as the match wore on the All Blacks grew stronger.
The Wallabies led the All Blacks 10-13 at half time but discipline cost them the lead and Stephen Donald kicked five penalties to Matt Giteau's 3.
Giteau missed two kicks and both teams scored a try a piece.
New Zealand has won the Tri-Nations tournament for the past four years.
The match marked the return of captain Richie McCaw, who scored New Zealand's only try, and fellow test veterans Rodney So'oialo and Sitiveni Sivivatu from injuries.
Donald narrowly beat Luke McAlister to the No. 10 jersey in the All Blacks starting lineup and upheld his selection by kicking a conversion and five penalties to lead New Zealand's comeback from a 13-3 first half deficit.
Donald's conversion of captain Richie McCaw's first half try cut the Wallabies' lead to 13-10 at halftime and he added four penalties in the second spell, answered by a single penalty from his opposite Matt Giteau, to engineer New Zealand's victory.
The All Blacks' victory extended their winning streak at Eden Park to 20 test matches and lengthened their winning run over the Wallabies at the Auckland stadium to 11 matches spanning 23 years.
They increased their chances of retaining the Tri-Nations title they have claimed for the past four years.
"At the end of the day there's very little between these teams," McCaw said.
"The team that wants to dig deepest is the team that will always come out on top in the end in a match like that."
Australia seemed on course to break its losing run at Auckland when it built a 13-3 lead inside the first 20 minutes.
Inside center Berrick Barnes scored a brilliant try four minutes into the match, running back a poor 22-meter restart by Donald and eluding weak All Black tackles on a 20-meter run to the line.
Giteau converted the try and kicked consecutive penalties to give Australia a 10-0 lead before Donald had his first kicking success to put New Zealand on the board after 14 minutes.
Australia had the chance to put the match beyond New Zealand's reach in the 17th minute when it charged down a clearing kick from Donald and mounted a concerted raid on the All Blacks' goalline.
A try seemed inevitable until a pass between Barnes and flanker George Smith went to ground, blemishing Smith's 100th test appearance for Australia.
The lost opportunity proved a turning point in the game.
Although Giteau goaled again in the 20th minute to give Australia a 13-3 lead, the momentum in the match swung New Zealand's way.
McCaw scored a 25th-minute try, taking an in-pass from center Conrad Smith after a concerted All Blacks buildup and Donald's conversion slashed the Australian lead to 13-10 at halftime.
Donald tied the scores with a penalty in the first minute of the second spell and put New Zealand ahead for the first time in the match with his third goal two minutes later.
Giteau tied the scores amid a flurry of penalties in the fourth minute of the second half but Donald's 60th-minute goal gave New Zealand a 19-16 lead, and he cemented the win with his final penalty eight minutes from fulltime.
After a slow start, New Zealand began winning the contest for possession at the breakdown, managing the turnaround through McCaw's leadership.
The All Blacks gradually assumed superiority over the Wallabies scrum and won the battle for territory and for disputed possession.
"Our discipline let us down, especially playing into the wind in the second half," Wallabies captain Stirling Mortlock said.
"When you give a team as good as the All Blacks that many opportunities, you can't expect to win."
New Zealand 22 Australia 16
Scorers
New Zealand
Tries - Richie McCaw
Pen - Stephen Donald 5
Con - Stephen Donald
Drop -
Australia
Tries - Berrick Barnes
Pen - Matt Giteau 3
Con - Matt Giteau
Drop -
Teams (15-1)
New Zealand: Mils Muliaina, Cory Jane, Conrad Smith, Sitiveni Sivivatu, Ma'a Nonu, Stephen Donald, Jimmy Cowen, Rodney So'oialo, Richie McCaw (captain), Jerome Kaino, Isaac Ross, Brad Thorn, Neemia Tialata, Andrew Hore, Tony Woodcock.
Reserves: Keven Mealamu, Owen Franks, Jason Eaton, Kieran Read, Piri Weepu, Luke McAlister, Joe Rokocoko.
Australia: Adam Ashley-Cooper, Lachie Turner, Stirling Mortlock (captain), Drew Mitchell, Berrick Barnes, Matt Giteau, Luke Burgess, Wycliff Palu, George Smith, Richard Brown, Nathan Sharpe, James Horwill, Al Baxter, Stephen Moore, Benn Robinson.
Reserves: Tatafu Polota-Nau, Ben Alexander, Dean Mumm, Phil Waugh, David Pocock, Will Genia, James O'Connor.
Referee: Craig Joubert (RSA)