The movie - which also stars Mark Walhberg and Mila Kunis - earned receipts of $6.7 million this weekend to hold its position in the standings.
Ted has now grossed almost $24 million in the country.
There are two new entries elsewhere in the top ten, as Maggie Gyllenhaal's romantic comedy Hysteria debuts in eighth place and Bollywood drama Cocktail - starring Saif Ali Khan and Deepika Padukone - charts at number nine in the standings.
The Australian box office top ten for the period July 12 to 15 (all takings shown in Australian dollars):
1. (1) Ted - $6,702,594
2. (3) Ice Age 4: Continental Drift - $3,989,854
3. (2) The Amazing Spider-Man - $3,674,368
4. (4) Brave - $1,945,352
5. (5) Snow White and the Huntsman - $1,945,352
6. (6) Katy Perry: Part of Me - $615,909
7. (7) The Three Stooges - $601,124
8. (-) Hysteria - $320,091
9. (-) Cocktail - $180,367
10. (8) Prometheus - $164,293
Watch the red band trailer for Ted below (note - clip contains adult humour):
Photo gallery - Seth MacFarlane's 'Ted':