Australia defeated New Zealand by seven wickets to become world champions for a fifth time.

A record crowd of 93,013 at the Melbourne Cricket Ground saw power-packed Australia bowl out the Black Caps for 183 and then gallop to victory in the 34th over.

Clarke, who announced his retirement from the one-day format on the eve of the final, added 112 runs for the third wicket with his likely successor Steve Smith, who returned unbeaten on 56.

The three Aussie left-arm pacers-- Mitchell Johnson, Mitchell Starc and James Faulkner-- did the trick for their team, sharing a total of eight wickets between them.

New Zealand captain Brendon Mccullum had a disappointing final; he was bowled out by Starc without troubling the scorers.