Australia have beaten New Zealand in a record-breaking Cricket World Cup match ©Getty Images

Australia pipped New Zealand to victory in the International Cricket Council Men's Cricket World Cup before The Netherlands secured their second win in a double-header day in India.

The Australians held on to win by five runs as the Antipodean clash went down to the final ball in what was the highest-scoring match in the history of the Cricket World Cup.

The Black Caps were set an improbable 389 to win, with openers Travis Head and David Warner leading the charge with 109 and 81 runs respectively.

The second wicket went with 200 runs on the board before Australia compiled a final total of 388-8 at the HPCA Stadium in Dharamsala.

A collapse then followed as Adam Zampa and Mitchell Starc were dismissed without adding to the total.

Rachin Ravindra top-scored for New Zealand with 116 to set up a scintillating finish.

An extraordinary 58 runs from 39 balls from Jimmy Neesham took his side to the brink of victory.

However, a brilliant run-out sent Neesham packing to the penultimate delivery of the match.

Number 11 Lockie Ferguson was unable to hit the required six from Starc's final delivery, giving Australia a memorable win.

"That was awesome," said Australian captain Pat Cummins.

New Zealand batter Jimmy Neesham, behind, was run-out on the penultimate ball of the match ©Getty Images
New Zealand batter Jimmy Neesham, behind, was run-out on the penultimate ball of the match ©Getty Images

"A fantastic game, they kept coming at us.

"That was a good wicket.

"In patches we bowled really well, sometimes we gave too much width away.

"Some really good partnerships, it was tough to get into them.

"We'll enjoy this one and get stuck in on the back end."

The Netherlands picked up their second win of the tournament with an 87-run triumph over Bangladesh.  

Before this year's event, the Dutch had only ever won two Cricket World Cup matches in their history.

Bowler Paul van Meekeren took four wickets for 23 runs in a player of the match display after Scott Edwards hit a crucial 68.

Paul van Meekeren, centre, was player of the match for The Netherlands against Bangladesh as he ended with figures of 4-23 ©Getty Images
Paul van Meekeren, centre, was player of the match for The Netherlands against Bangladesh as he ended with figures of 4-23 ©Getty Images

Edwards laid the foundations for The Netherlands to post a competitive 229 at Kolkata's Eden Gardens.

The win sees the Dutch move up to eighth in the table, leaving defending champions England in last place.

"We said we wanted to go for the semi-final, and do that you need to win games," said van Meekeren.

"To bounce back from Australia is a great effort from the whole team.

"At the halfway mark of our innings we were looking at 230-240 and if we could get to that we had a chance.

"We were relentless with our line and length.

"We rode on the wave the momentum we created on the back of our batting."

Competition is set to continue tomorrow as England take on India in Lucknow.