First-five Richie Mo'unga starred, as the All Blacks wrapped up the Bledisloe Cup for the 18th straight season, destroying the Wallabies 43-5 at Sydney's ANZ Stadium.
New Zealand rolled back the clock and produced a near-perfect first-half performance on their way to a record win in the Tri-Nations opener.
The 38-point margin was New Zealand's biggest win in the rivalry's 117-year history.
Mo'unga provided the standout performance, scoring two tries in a 23-point haul, as he tore the Wallabies to shreds.
Things didn't start well for the Australians when, after just three minutes, Filipo Daugunu was sent to the bin for tackling Caleb Clarke in the air.
Four minutes later, New Zealand made the Wallabies pay when Karl Tu'inukuafe slid over to score the game's opening try.
The Wallabies received a lifeline in the ninth minute, when Jordie Barrett was sent to the sin bin for an elbow to the head of Dane Haylett-Petty.
Midway through the half, the All Blacks took control of the test with three tries in 10 minutes, as Mo'unga scored a quick-fire double, while hooker Dane Coles also crashed over for New Zealand to lead 26-0 at the break.
The Wallabies hit back early in the second half, after a rampaging run from centre Jordan Petaia set up Noah Lolesio's to give the Aussies hope, but they made too many mistakes to mount a serious comeback.
After a scrappy period of play for the next 20 minutes, the All Blacks worked a perfect scrum move that saw Hoskins Sotutu offload to Reiko Ioane, who scored in the corner.
Jordie Barrett rounded out the scoring, breaking through the Australian defence to score from 50m out.
The All Blacks are back in action next Saturday, when they play the dead-rubber Bledisloe Cup match against Australia in Brisbane.
All Blacks 43 (Tu'inukuafe, Mo'unga 2, Coles, Ioane, J Barrett tries; Mo'unga 5 conversions, penalty) Wallabies 5 (Lolesio try)
Join us at 9:45pm on November 7 for live updates of the fourth All Blacks v Australia Bledisloe Cup test