The major study of the 2019 general election compiled by Australian National University (ANU) researchers said only one in four Australians have confidence in the nation's political leaders.
The finding is the lowest level of trust since the ANU first began conducting its post-election survey of voters in 1960, according to the Australian Broadcast Corporation.
Only 59 percent of respondents said they were satisfied with how Australia's democracy is working -- down from a record high of 86 percent following the 2007 election.
One in 10 respondents said they believe that the government is run for everyone, with 56 percent saying it is run for "a few big interests."
"I've been studying elections for 40 years, and never have I seen such poor returns for public trust in and satisfaction with democratic institutions," lead researcher Ian McAllister said in a media release on Monday.
Winning back the people's trust and satisfaction would appear to be one of the most pressing and urgent challenges facing our political leaders and institutions, said the researcher.
The study sought to explain May's election result after the governing Coalition was elected for a third consecutive term despite the Labor Party leading in every opinion poll.
It found that fewer Australians align themselves with one of the two major political parties than ever before and that undecided voters thought the Coalition was better-suited to run the economy.
"Voters swung to the Coalition based on the economy, tax and leadership. Voters swung to Labor on the environment," researcher Jill Sheppard said.