The Wallabies had looked to be coasting after Nick Cummins' second try in as many weeks helped them into a 22-3 half-time lead.
But Robbie Deans' men ground to a half after the interval as the Azzurri sensed a first-ever win against their southern hemisphere rivals.
Robert Barbieri dived over for a converted try two minutes after the re-start before a pair of Luciano Orquera penalties drew them to within three points with 25 minutes remaining.
But, despite some torrid play from the Wallbies, they held on to grab back-to-back wins on their European tour after their Twickenham success over England last weekend.
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The entire All Blacks apparel line has been updated for 2013/14. Check out the New Zealand All Blacks polo.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Gilbert Blitz 8S rugby cleat is a great cleat at a great price of $69.99. Get a new pair of cleats today.
A cool looking all black rugby cleat with the high performance adidas is known for. Get in the Gear!
Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
$29.99
The All Blacks Performance t-shirt is black with hints of blue from the training jersey. Very Cool.
The New Zealand All Blacks training jersey for 2013/14. Get in the Gear!
The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.