Current Australian captain Ricky Ponting was named as Waugh's deputy of the ODI side which boasts a combined 2370 matches, 55,831 runs and 1532 wickets.
Australia's 163 ODI representatives since 1971 were invited to vote for their best team of 12, with eighty per cent of the group casting their votes.
The greatest Australian ODI team, as voted by Australia's ODI representatives, is (in batting order):
| Player | Votes | Matches | Runs | HS | Average | Wickets | Average | BB |
| Adam Gilchrist | 110 | 256 | 8561 | 172 | 35.67 | - | - | 376/37 (c/st) |
| Mark Waugh | 101 | 244 | 8500 | 173 | 39.35 | 85 | 34.56 | 5-24 |
| Ricky Ponting (v-cpt) | 107 | 268 | 9741 | 154 | 42.17 | 3 | 34.66 | 1-12 |
| Dean Jones | 80 | 164 | 6068 | 145 | 44.61 | 3 | 27.00 | 2-34 |
| Steve Waugh (c) | 72 | 325 | 7569 | 120* | 32.90 | 195 | 34.67 | 4-33 |
| Michael Bevan | 83 | 232 | 6912 | 108* | 53.58 | 36 | 45.97 | 3-36 |
| Andrews Symonds | 74 | 161 | 4037 | 156 | 38.81 | 121 | 37.38 | 5-18 |
| Shane Warne | 109 | 194 | 1018 | 55 | 13.05 | 293 | 25.73 | 5-33 |
| Brett Lee | 57 | 150 | 739 | 57 | 18.02 | 267 | 22.65 | 5-22 |
| Dennis Lillee | 89 | 63 | 240 | 42* | 9.23 | 103 | 20.82 | 5-34 |
| Glenn McGrath | 109 | 239 | 115 | 11 | 3.97 | 354 | 22.58 | 7-15 |
| Greg Chappell (12th) | 40 | 74 | 2331 | 138* | 40.18 | 72 | 29.12 | 5-15 |
