The survey of 1200 people has shown that the average adult Australian gets less than 7 hours sleep a night, below the 7 to 8 hours recommended by sleep experts.
According to the study by health insurer MBF, people among the age group of 35 to 44 got the least sleep, recording just 6.4 hours.
The study also showed that long hours, work related stress and job insecurity were rated among the top factors contributing to lack of sleep.
The poll also found that 44 per cent people felt "exhausted" when they got back home from work.
Other people blamed poor sleeping patterns, television or computer games or simply having too much to do.
The results of the study has shown that those sleeping less were more concerned about their health and less likely to rate their health as excellent - the opposite of longer sleepers.
Dr Christine Bennett, the chief medical officer with MBF, said that sleep-deprived people were more likely to worry about their overall state of health, weight and happiness than those getting enough quality sleep.
"Australians are paying a price for living in a 24/7 world in which sleep is the most likely casualty as people try to find the time to pack more and more into a day," News.com.au quoted Dr Bennett, as saying.
"People tend to forget that sleep is the third dimension of health and well-being after exercise and a healthy diet," Dr Bennett added.
Sleep experts have recommended that adults should get seven to eight hours sleep each night, with teenagers requiring up to 10 hours.
Lack of sleep results in chronic sleepiness, poor performance and impaired judgment, and has also been associated with obesity, diabetes and hypertension.