The best selling album in 1974 in Australia was BAND ON THE RUN by PAUL MCCARTNEY & WINGS.
| Rank | Artist | Album | Released |
| 1 | PAUL MCCARTNEY & WINGS | BAND ON THE RUN | 1973 |
| 2 | ELTON JOHN | GOODBYE YELLOW BRICK ROAD | 1973 |
| 3 | NEIL DIAMOND | HOT AUGUST NIGHT | 1972 |
| 4 | ELTON JOHN | CARIBOU | 1974 |
| 5 | SUZI QUATRO | CAN THE CAN | 1974 |
| 6 | MIKE OLDFIELD | TUBULAR BELLS | 1973 |
| 7 | MARVIN HAMLISCH | THE STING (SOUNDTRACK) | 1974 |
| 8 | NEIL DIAMOND | JONATHAN LIVINGSTON SEAGULL (SOUNDTRACK) | 1973 |
| 9 | PINK FLOYD | DARK SIDE OF THE MOON | 1973 |
| 10 | RICK WAKEMAN | JOURNEY TO THE CENTRE OF THE EARTH | 1974 |
| 11 | SUZI QUATRO | QUATRO | 1974 |
| 12 | DAVID BOWIE | PIN UPS | 1973 |
| 13 | JOHN DENVER | BACK HOME AGAIN | 1974 |
| 14 | NEIL DIAMOND | SERENADE | 1974 |
| 15 | RINGO STARR | RINGO | 1973 |
| 16 | STEVIE WRIGHT | HARD ROAD | 1974 |
| 17 | THE ROLLING STONES | GOAT'S HEAD SOUP | 1973 |
| 18 | ERIC CLAPTON | 461 OCEAN BOULEVARD | 1974 |
| 19 | SHERBET | SLIPSTREAM | 1974 |
| 20 | DAVID BOWIE | DIAMOND DOGS | 1974 |
| 21 | ROSS RYAN | MY NAME MEANS HORSE | 1974 |
| 22 | CAT STEVENS (YUSUF ISLAM) | BUDDHA & THE CHOCOLATE BOX | 1974 |
| 23 | DEEP PURPLE | BURN | 1974 |
| 24 | BAD COMPANY | BAD COMPANY | 1974 |
| 25 | JOHN DENVER | JOHN DENVER'S GREATEST HITS | 1973 |
Source: Kent Music Report