Matthew Wade and David Warner gave Australia their best start of the tournament as they set out to post a big total in the first final against Sri Lanka at the Gabba.
After Michael Clarke chose to bat the Australians reached 1 for 148 at the halfway point, with Warner on 74 and Shane Watson on 5, and despite the loss of Wade for 64 it was still the perfect platform on which to build a hefty score.
Wade fell to a spectacular, freakish catch in the outfield from Rangana Herath.
Australia had entered the match with two changes, Clarke returning from injury at the expense of Peter Forrest, and Clint McKay left out of the side to accommodate Brett Lee.
Sri Lanka made three changes from the side that won Friday's thrilling encounter at the MCG, two of them forced by injuries.
Thisara Perera has flown home due to a back injury and Angelo Mathews did not recover from his calf injury as well as Sri Lanka had hoped, while the offspinner Sachithra Senanayake was left out.
Australia made 321 runs for the loss of 6 wickets in their allotted 50 overs.