The win prompted celebrations and excited reactions around the country, including from Prime Minister Anthony Albanese who has promised a public holiday if Australia wins the World Cup.
NSW Premier Dominic Perrottet called the game a true testament to the Australian spirit, saying the players had been "tenacious in every tackle".
Aussies packed out pubs and bars around the nation to watch the Socceroos' historic victory, including Coach Graham Arnold's local, the Sackville Hotel in Sydney's inner west.
The Sackville Hotel rebranded itself to "The Sacky-roos" for the do-or-die match against Denmark.
"We're celebrating for him," Sackville manager Rob Squillacioti said. "We had a full pub when Australia scored. Everyone up celebrating, strangers hugging each other."
Transport NSW shared this tongue-in-cheek post after the match:
Betoota Advocate paid homage to SBS' own, the late Les Murray.
It is fair to say that Australia has rejoiced in the win...
Even the English chimed in, former England great and current analyst Gary Lineker paying tribute.
Sights set on Sunday
Sunday will be no day of rest for excited Australian football fans as they rise at the crack of dawn and flock to public live sites to cheer the Socceroos against powerhouse Argentina.
The match will be Australia's most important since the World Cup last-16 clash with Italy in 2006 and interest in the game is expected to eclipse other major sporting events such as the Olympics.
On Sunday, Australia will face the might of Argentina and its megastar Lionel Messi in Qatar - but the unfancied Socceroos will have the passionate support of the nation.
In Sydney, the game will be live streamed on two big screens at Tumbalong Park in Darling Harbour from 5.00am.
Other live sites will pop up throughout the city, including at the Liverpool CBD and at Enmore in Sydney's inner west.
While a much-hyped event at the Sydney Opera House forecourt did not come to pass, the sails of the Opera House will be lit up in green and gold from 8pm on Saturday until dawn on Sunday.
Public transport will be free throughout Sydney from 4am to midday.
Fans will again fill Melbourne's Federation Square with noise and colour and other states are scurrying to secure live viewing sites after vision of celebrations went viral.
The governments of South Australia, Queensland and NSW, as well as the City of Perth, have promised to stage public live streams of the match.
Victorian Premier Daniel Andrews flagged a second venue could be set up alongside Federation Square.
Socceroos legend Craig Foster called on premiers to celebrate the team's historic achievement in the quest for its first World Cup quarter final.
"Let's get Australia out this Sunday to share the journey with each other in all our multicultural beauty," he tweeted on Thursday.
How to watch Australia v Argentina LIVE and FREE on SBS
Sunday, December 4
Round of 16 - Australia v Argentina
5:00am - 8:30am (AEDT) - kickoff at 06.00am
LIVE on SBS and SBS On Demand