Red Bull Formula One driver Sebastian Vettel of Germany celebrates on podium after winning the Australian F1 Grand Prix at the Albert Park circuit in Melbourne on Sunday. Mick Tsikas / Reuters

World champion Sebastian Vettel sounded a warning to his rivals with a dominating victory in his flying Red Bull in the season-opening Australian Grand Prix in Melbourne on Sunday.

The German whiz, who at 23 became the youngest world champion last year, led his rivals a merry dance around the Albert Park street circuit, beating McLaren's 2008 world champion Lewis Hamilton by more than 22 seconds with Russian Vitaly Petrov third in a Lotus Renault.

It was Vettel's 11th win in his 63rd GP and continues from where he left off when he won the final race of last season in Abu Dhabi.

Vettel, who posted the fastest-ever lap at Albert Park to qualify on the pole, yet again did not resort to using the power-boosting KERS (kinetic energy recovery system) to further accentuate his gap on the F1 field.

"I think it makes it clear that they have a fantastic car as they have had for the last year and a half, they've had the fastest car since midway through 2009 and they continue to have the fastest car," Hamilton admitted.

Vettel tempered expectations that world constructors' champions Red Bull will again rule the 2011 season as they did last year.

"I don't like the word 'dominant' at this stage, to be honest," Vettel said. "It's a long way to go. We have to keep our feet to the floor.

"It was a very good race today, obviously we got a lot of points which are very important as well as enjoying ourselves, but it's a long year and a lot of things can happen," Vettel said. "This is a special track and we have to stay focused for the next race."

Vettel's emphatic performance ended his personal frustrations in Australia, where he had failed to finish twice along with an indistinguished 13th in 2009 in his three previous drives.

"It was important for us to finish the race because we didn't last year, so big compliments to everyone back in the factory," he said.

"The car was quick from the first moment but it was very reliable, which is the key and I finished at the Australian Grand Prix, so I am very happy."

Vettel's Red Bull was by far the quickest car this weekend and registered a record lap around Albert Park of 1:23.529 to take pole position in Saturday's qualifying.

Ferrari's Fernando Alonso missed out on the podium in fourth place, while Vettel's Australian teammate Mark Webber finished fifth for the third time in his home GP.

Hamilton, who won in Australia in his 2008 world championship season, praised the sheer speed of the Red Bulls, but sounded a warning of his own.

"It's rare to see in Formula One such a big leap in performance and I feel privileged to have finished second," he said. "We're back in the fight and we're only a few points behind the guy who has a much faster car.

"But we'll close that gap, I have no doubts about that and we clearly showed today after our first stint that we can compete with them in the race if we can get up front in the race and apply some pressure."

There was jubilation in the Lotus Renault garage with Petrov's first podium finish in 20 GPs.

"I am very happy to be on the podium with these guys and all week was pretty good for us and during practice and qualifying our car looked pretty strong and today the team did everything perfectly," Petrov said.

Vettel safely negotiated his way off the pole and headed off Hamilton and Webber to the notorious first right-hander, which claimed seven-time world champion Michael Schumacher, who was forced to pit before eventually retiring after 19 laps.

The German made his first pit stop to change the faster-wearing Pirelli tires on the 15th lap and again on lap 36, while teammate Webber made three stops.

Vettel comfortably held Hamilton at bay as he cruised to the chequered flag underlining Red Bull's dominance in the early stages of the new Formula One season.

The next stop on the F1 circuit is Sepang in Malaysia on April 10.