Tom Cruise's action blockbuster knocked DreamWorks' animated family movie Puss in Boots from the top of the standings in the last set of sales figures to be released before the Christmas weekend, taking over $4 million across 414 screens.
> 'Mission: Impossible's Tom Cruise: 'I'll keep making action movies'
Elsewhere, there is little change from last week's chart, as last week's top six each drop one place.
There are two new entries - family drama Dolphin Tale sits at number eight, while French social comedy The Women on the 6th Floor enters the chart in tenth place.
Immortals, Moneyball and Midnight in Paris all drop out of the top ten this week.
The box office top ten in full (figures in Australian dollars):
1. (-) Mission: Impossible - Ghost Protocol - $4,121,596
2. (1) Puss in Boots - $2,154,488
3. (2) New Year's Eve - $1,721,371
4. (3) The Twilight Saga: Breaking Dawn - Part 1 - $587,793
5. (4) Jack and Jill - $559,313
6. (5) The Inbetweeners Movie - $490,831
7. (6) Arthur Christmas - $486,211
8. (-) Dolphin Tale - $325,723
9. (7) The Ides of March - $307,863
10. (-) The Women on the 6th Floor - $144,743
Watch Mission: Impossible - Ghost Protocol's stars - including Tom Cruise and Simon Pegg - speaking to Digital Spy at the UK premiere of the film:
Move through a picture gallery from the London premiere of Mission: Impossible - Ghost Protocol below: