Joel Kelso has become the first Australian in nine years to secure a Moto3 podium after handling wet and wild conditions at Phillip Island.

The 20-year-old finished third in Sunday's Moto3 race, placing behind winner Deniz Oncu from Turkey and Japan's Ayumu Sasaki.

Kelso is the first Australian rider since current MotoGP star Jack Miller at the 2014 Valencia Grand Prix to finish inside the top three of a Moto3 race.

The Darwin-born rider's previous best race result during two full-time seasons was eighth at last year's Australian Motorcycle Grand Prix.

"It's bloody brilliant, mate," Kelso said.

"Honestly, over the moon.

"Obviously it was tricky conditions and I thought 'gee whiz, we're just going to have to f***** going for it', we're at the home GP.

"I thought we were on for a win but we made a little mistake so let's just put it in the bag and get it home safely."

Kelso will switch to Boe Motorsports next year after being told by Prustel GP he would not be given a contract for 2024.

The Moto3 race was first up at Phillip Island on Sunday.