The move comes amid an increasing shift to Internet-based on-demand television globally, with the California-based company leading the field.
Netflix co-founder and chief executive Reed Hastings said streaming in Australia and New Zealand would begin on March 24.
"Many Aussies and Kiwis have heard a lot about Netflix over the years," he said in a statement.
"We're excited they'll get to experience our unique blend of Netflix original content, local series and films, and popular movies and TV shows from around the world."
The video-on-demand service will be available on all major Australian broadband operators and accessible on a myriad of devices, including smart TVs, gaming console Xbox, smartphones and tablets.
Netflix in January announced it has boosted membership to more than 57 million users at the end of 2014, a gain of 13 million. Profits jumped to $266 million (roughly Rs. 1,646 crores) for the year on $5.5 billion (roughly Rs. 34,048 crores) in revenue.
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