New Zealand rode on an early goal from Cathryn Finlayson in the Group B match to secure their landmark triumph.
It was the first time the Black Sticks had taken even a point off Australia in the Games, having also lost by at least three goals in the past.
Finlayson scored from a corner in the third minute with a follow-up shot from eight yards after the initial drive by New Zealand Captain Kayla Sharland had been saved.
New Zealand were the more cohesive team, but both sides created enough chances to have added to the score.
“It was not pretty, we were lucky. They hit the post,” said Kiwis Coach Mark Hager.
Australia Coach Adam Commens admitted his team paid a high price for squandering their opportunities. “We created enough chances, and when you do so you should be able put the ball in,” he said.
Defending champions Netherlands started their campaign with a solid 3-0 win over hard-working Belgium in Group A with Kim Lammers firing two field goals and Caia van Maasakker capitalising on a late penalty corner.
The Dutch dominated the game, but were kept at bay until Lammers opened the scoring in the 33rd minute when she shot in after picking up a long pass fro.