Thousands of cricket fans have flocked to Federation Square in Melbourne to celebrate Australia's cricket World Cup victory on Monday.

Having top-scored for Australia with a 74 to push his team to victory over New Zealand, the 33-year-old Michael Clarke bowed out with guns blazing in a fairytale farewell at a packed Melbourne Cricket Ground on Sunday.

Clarke admitted he and his team mates were feeling a little hung over after a night of partying.

The biggest applause was reserved for the last man called, Clarke, who assured the fans the team had enjoyed its victory.