The University of Melbourne is nation's highest ranking university, with just three other Australian higher education centres making the top 100 in the latest world rankings.
The University of Melbourne rose 25 places to be placed 57th nudging out the University of Sydney as Australia's top institution after it was ranked 71st, the Centre for World University Rankings show.
Both universities improved their rankings on last year's figures of 82 and 74 respectively.
The University of Queensland was ranked 74th while the Australian National University in Canberra secured 82nd spot.
The universities were ranked across eight categories including the quality of education, alumni employment, research output, influence, quality publications, citation and quality of faculty.
Universities in the US dominated the top 10 spots, with Harvard topping the list, followed by Stanford and the Massachusetts Institute of Technology (MIT).
The University of Cambridge and University of Oxford placed fourth and fifth respectively.
The University of Tokyo was the highest placed Asian institution.
Other Australian entries included the University of New South Wales, which placed 119th, Monash University in 125th, and the University of Western Sydney in 145th.
