The Hugh Jackman action movie, which generated over $2 million in ticket sales, retained its top spot, followed by Ryan Gosling and Steve Carell's Crazy, Stupid, Love in second position.
In third place is new entry What's Your Number?, which generated $830,519 in ticket sales, closely followed by Jodi Gordon and Stephen Curry's Australian racing movie The Cup with $817,696.
The Smurfs drops down to fifth place only two weeks after keeping the number one spot for three consecutive weeks.
Other movies featured in the top ten are Rowan Atkinson's Johnny English Reborn and Australian-made Red Dog, which has consistently featured in the list since its release in August.
The box office top ten in full (figures in Australian dollars):
1. (1) Real Steel - $2,258,627
2. (3) Crazy, Stupid, Love - $1,212,964
3. (-) What's Your Number? - $830,519
4. (-) The Cup - $817,696
5. (2) The Smurfs - $721,608
6. (5) Footloose - $574,770
7. (-) The Thing - $556,267
8. (4) Johnny English Reborn - $510,759
9. (8) Red Dog - $322,892
10. (-) The Phantom of the Opera at Albert Hall - $276,036
Watch Hugh Jackman discuss Real Steel with Digital Spy below: