Chasing an unlikely 416 for victory, the Black Caps were skittled for 136 with off-spinner Lyon taking five for 50 and Mitchell Starc claiming three for 25.
Number seven Colin De Grandhomme top-scored with 52, while Ross Taylor became the Black Caps’ highest Test run-scorer during his knock of 22.
FULL SCORECARD: Australia vs New Zealand, third Test at the SCG
The 35-year-old, who has played 99 Tests, overtook Stephen Fleming to move on to 7,174 runs.
David Warner set up Australia’s victory push with an unbeaten 111, sharing stands of 107 and 110 with Joe Burns and half-centurion Marnus Labuschagne respectively, as his side declared on 217 for two.
Australia were penalised five runs during their second innings by umpire Aleem Dar as a result of Warner and Labuschagne running on the pitch.
Root insists he is enjoying the mix of experience and youth in the England side.
Wood and Stokes star as England wrap up a 3-1 series victory.
Pakistan won the series 2-0 to retain top spot.
The cricketing world is mourning the death of NBA legend Kobe Bryant today.
Cook admits to being “jealous” at the way David Warner approaches Test cricket.
Another great day for England, but Buttler’s misfires continue.
Tall order for this current South Africa team, it’s fair to say.
Just about worked out okay we reckon.
The Indian juggernaut rolls on.
Mark Wood is an all-rounder now.