| Final | time | | 1. Thomas Courtney | USA | 1:47.7 | | 2. Derek Johnson | GBR | 1:47.8 | | 3. Audun Boysen | NOR | 1:48.1 | | 4. Arnold Sowell | USA | 1:48.3 | | 5. Michael Farrell | GBR | 1:49.2 | | 6. Lonnie Spurrier | USA | 1:49.3 | | 7. Emile Leva | BEL | | 8. Bill Butchart | AUS |
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| | | Venue: Melbourne Cricket Ground. Capp.: 120,000. | | -- competitors from -- nations. |
| Heat 1 | time | | 1. Thomas Courtney | USA | 1:53.6 | | 2. Lonnie Spurrier | USA | 1:53.6 | | 3. Michael Farrell | GBR | 1:53.7 | | 4. Bill Butchart | AUS | 1:53.8 | | 5. Lajos Szentgali | HUN | 1:53.9 | | 6. Yoshitaka Muroya | JPN | 1:54.5 | | -. Gunnar Nielsen | DNS |
| Heat 2 | time | | 1. Arnold Sowell | USA | 1:50.0 | | 2. Audun Boysen | NOR | 1:50.0 | | 3. Derek Johnson | GBR | 1:50.2 | | 4. Emile Leva | Bel | 1:50.4 | | 5. Michael Rawson | GBR | 1:50.4 | | 6. Rene Dijan | FRA | 1:50.7 | | 7. James Bailey | AUS | 1:51.4 | | 8. Evangelos Depastas | GRE | TNT |
| Heat 1 | time | | 1. Audun Boysen | NOR | 1:52.0 | | 2. Michael Rawson | GBR | 1:52.1 | | 3. Yoshitaka Muroya | JPN | 1:52.3 | | 4. Gerard Rasquin | LUX | 1:52.7 | | 5. Dimitrios Constantinidis | GRE | 1:52.7 | | 6. Fransico Rivera Paniagua | PUR | 1:56.4 | | 7. Malmo Wolde | ETH | 1:58.0 |
| Heat 2 | time | | 1. Thomas Courtney | USA | 1:52.7 | | 2. Michael Farrell | GBR | 1:52.8 | | 3. Evangelos Depastas | GRE | 1:53.1 | | 4. Donald MacMillan | AUS | 1:53.4 | | 5. Shigeharu Suzuki | JPN | 1:54.1 | | 6. Paul Schmidt | GER | 1:55.6 | | 7. Manikavagasam Harichandra | MAL | TNT | | 8. Douglas Clement | CAN | TNT | | 9. Phoi Jaiswang | THA | TNT |
| Heat 3 | time | | 1. James Bailey | AUS | 1:51.1 | | 2. Arnold Sowell | USA | 1:51.3 | | 3. Emile Leva | BEL | 1:52.0 | | 4. Sohan Singh | IND | 1:52.4 | | 5. Eduardo Fontecilla | CHI | 1:52.8 | | 6. Gunther Dohrow | GER | 1:53.7 | | 7. Arap Kiptalam Keter | KEN | TNT | | 8. Bayene Ayanew | ETH | TNT | | 9. Kenneth Perera | MAL | TNT |
| Heat 4 | time | | 1. Gunnar Nielsen | DEN | 1:51.2 | | 2. Lonnie Spurrier | USA | 1:51.5 | | 3. Bill Butchart | AUS | 1:51.6 | | 4. Gianfranco Baraldi | ITA | 1:51.9 | | 5. Abdullah Khan | PAK | 1:52.6 | | 6. Sang Ok-Sim | KOR | 1:55.5 | | 7. George Johnson | LBR | TNT |
| Heat 5 | time | | 1. Derek Johnson | GBR | 1:50.8 | | 2. Rene Dijan | FRA | 1:51.1 | | 3. Lajos Szentgali | HUN | 1:51.8 | | 4. Ramon Sandoval | CHI | 1:51.9 | | 5. Klaus Richtzenhain | GER | 1:53.3 | | 6. Jan Mahmud | PAK | 1:59.5 |
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