With the victory, Herbert and Mahut added the Melbourne Park title to their US Open, Wimbledon and French Open crowns to complete the career Grand Slam.
Australian Stosur, who has a history of suffering attacks of nerves in front of home fans, struggled to serve out the match at Rod Laver Arena and double-faulted on match point.
The 28-year-old said beating American great Williams was the finest win of her career, outstripping her upset of world number one Ash Barty at last year's US Open.
Kyrgios and Kokkinakis, nicknamed the 'Special Ks' as juniors, claimed their first major title
Kyrgios and Kokkinakis were nicknamed the 'Special Ks' as juniors
Denis Shapovalov said his Australian Open quarter-final opponent Rafael Nadal "100%" receives preferential treatment from officials and benefited from favouritism during the Spaniard's five-set victory on Tuesday.
List of leading men's grand slam singles title winners after Roger Federer beat Rafael Nadal in the Australian Open final on Sunday.
Images from Tuesday's action at the Australian Open.
Rafael Nadal is taking no pleasure from the absence of great rival Novak Djokovic at the Australian Open, even if it means he has a clearer shot at the Grand Slam title record.
Novak Djokovic took a tumble in the first set but returned to his feet quickly to complete a 6-0, 6-4, 6-4 trouncing of Argentine Leonardo Mayer and march into the third round of the Australian Open on Wednesday.
Indian cricket legend Sachin Tendulkar and his wife Anjali Tendulkar watch the men's semi-final match between Roger Federer and Novak Djokovic from the Royal Box on Centre Court at Wimbledon.
Images from Day 3 of the 2023 Australian Open at Melbourne Park on Wednesday.
Federer rues missed chances in Tsitsipas thriller
A look at the 10 landmark matches from the 20-times Grand Slam champion's career.
Hungarian Timea Babos and France's Kristina Mladenovic defeated Russian duo Ekaterina Makarova and Elena Vesnina 6-4, 6-3 to win the women's doubles title at the Australian Open on Friday.
Indian tennis ace Sania Mirza and her Romanian partner Horia Tecau's dream run came to an end in the mixed doubles event of the Australian Open on Sunday.
Novak Djokovic showed a few signs of rustiness after the off-season but still comfortably reached the second round of the Australian Open with a 6-3, 7-6 (7-2), 6-1 victory over Lukas Lacko on Monday.
Novak Djokovic deserves a "little star" next to his name for a spectacular 2015 season that saw him win three grand slams among his 11 titles but the men's game is not simply a matter of the Serb versus the rest, Roger Federer said.
Serena Williams again wore her distinctive single-legged leotard for her second match at the Australian Open on Wednesday, and said the light material was perfect for the warmer conditions if a little too sheer to wear by itself.
Victoria Azarenka refuses to accept that Maria Sharapova's greater experience could be the defining factor when they meet in the Australian Open women's final on Saturday.
More major trophies surely await if she can convert her irresistible hardcourt form to French Open clay and grass at Wimbledon.
Novak Djokovic has vowed not to become over-confident as he seeks to extend a 15-match winning streak when he returns to action in Dubai, his first tournament since winning a sixth Australian Open title last month.
Djokovic sets sights on Paris Olympics
A resurgent Svetlana Kuznetsova stunned former World No. 1 Caroline Wozniacki in an absorbing encounter on Rod Laver Arena to reach the quarter-finals of the Australian Open with a 6-2, 2-6, 7-5 victory on Monday.
Florida-born Collins battled hard in the first set on a stifling day at Rod Laver Arena but ended up steamrolled 7-6(2), 6-0 by eighth seed Kvitova.
'It ranks right at the top. Under the circumstances, playing against Nadal, such an important match, it's amazing," the 31-year-old told reporters after needing barely two hours to extend his perfect record in seven Australian Open finals'
Rafael Nadal has the opportunity to add another chapter to his storied career, and intensify an already robust debate, should he beat Stanislas Wawrinka in Sunday's Australian Open final.
After two years in the spotlight as Australian Open champion, Victoria Azarenka was reduced to a spectator against Agnieszka Radwanska as she crashed out of the quarter-finals in a bout of self-flagellation on Wednesday.
Factbox on Switzerland's Roger Federer,
Li Na wore down Agnieszka Radwanska with a barrage of power-hitting to beat the fourth seed 7-5, 6-3 and advance to her third semi-final at the Australian Open on Tuesday.
Shapovalov will meet Rafael Nadal for a place in the semi-finals.
Silent assassin Agnieszka Radwanska ended Victoria Azarenka's bid for a hat-trick of titles at Melbourne Park on Wednesday and reached her maiden Australian Open semi-final with a 6-1, 5-7, 6-0 win.
Heartbroken by Djokovic in two five-set epics in Melbourne and the US Open last year, the eighth-seeded Swiss played out of his skin to upset his Grand Slam nemesis 2-6, 6-4, 6-2, 3-6, 9-7 in an exhilarating four hours.
Third seed Maria Sharapova was dumped out of the Australian Open on Monday with a 3-6, 6-4, 6-1 fourth round loss to Slovakia's Dominika Cibulkova on Rod Laver Arena.
Picking up her racquet bag and marching straight out of Rod Laver Arena without a nod or a wave, Maria Sharapova's abrupt exit after her fourth-round loss to Dominika Cibulkova on Monday spoke volumes of her disdain for a forgettable Australian Open.
Serena Williams admitted that a bad back sustained during practice hampered her movement during her shock fourth round loss to Ana Ivanovic on Sunday, but refused to blame the injury for her stunning exit that blew the Australian Open wide open.
Images from the Australian Open matches played on Sunday.
Serbia's Ana Ivanovic stunned World No 1 Serena Williams at the Australian Open on Sunday with a 4-6, 6-3, 6-3 fourth-round upset at Rod Laver Arena.
Images from the Friday's play at the Australian Open.