Finland's 2007 world champion rode to victory on a two-stop strategy and crossed the line 12.4 seconds clear of Ferrari's Fernando Alonso.
Triple world champion Sebastian Vettel rounded out the podium in third place for Red Bull after struggling with tyre wear throughout the race.
The 25-year-old Vettel got away cleanly from pole position but the variety of strategies forced on the teams by the tyres and the pace shown by Red Bull's rivals ensured this was never going to be a procession for the German.
A few light showers contributed to an intriguing race but never threatened to disfigure it as top drivers engaged in fierce battles around the circuit and the lead changed hands with surprising frequency.
In Image: Lotus driver Kimi Raikkonen of Finland raises the winner's trophy as Ferrari's Fernando Alonso of Spain, left, and Red Bull's Sebastian Vettel of Germany clap after the Australian Formula One Grand Prix at Albert Park in Melbourne, Australia, Sunday, March 17, 2013.