It was Sebastian Vettel's, four-time world champion fourth win for Ferrari and his first since Singapore in 2015 and his 43rd career win.
Lewis Hamilton will be looking to start the 2017 season with a win at Sunday's Australian Grand Prix.
The triple world champion bossed the field in the afternoon run to hold a half-second gap over Ferrari title rival Sebastian Vettel and his new Mercedes team-mate Valtteri Bottas.
Liberty Media's takeover and the off-season departure of the sport's veteran commercial ring-master Bernie Ecclestone have coincided with an overhaul of the technical regulations to usher in a new breed of 'fatter and faster' cars.
The Formula One 2017 season starts with the Australian Grand Prix in Melbourne on March 26.
Ferrari's Kimi Raikkonen led Mercedes driver Lewis Hamilton in the pre-season testing on Tuesday.
Sebastian Vettel topped the timesheets in the first session but the Briton Lewis Hamilton, taking over the wheel of Mercedes' imposing 2017 car from new teammate Valtteri Bottas, clocked the day's best lap of 1min 21.765sec.
Three-times world champion Lewis Hamilton's comments came on the eve of his Mercedes team's launch of their new car for the 2017 season.
The 212 strong workforce of Formula 1 team Manor have been sent home and will be made redundant next Tuesday after their salaries for January have been paid.
Bernie Ecclestone's time as the colourful ringmaster of the Grand Prix circuit was effectively finished on Monday when US-based Liberty Media completed its takeover of motorsport's most prestigious brand in a deal valued at about $8 billion.
Colorado-based Liberty Media confirmed in a statement that American Chase Carey had been appointed chairman and chief executive of F1, with Bernie Ecclestone moving into an advisory role as "chairman emeritus".
Valtteri Bottas had been the front runner to replace 2016 world champion Nico Rosberg ever since the German announced his shock retirement in December last year.
According to Daily Mail, David Beckham and Ron Dennis had a verbal exchange over tables reserved at the One & Only Reethi Rah resort to give celebrity guests the best view of the entertainment
Mercedes are yet to name who they want as Lewis Hamilton's new partner, although reports say they are chasing Valtteri Bottas from Williams.
Nico Rosberg wanted to emulate his father, Keke Rosberg, which he achieved. Now it's time for him to put up his feet and watch the show... which goes on
Nico Rosberg won the 2016 Formula 1 drivers' world championship at the season ending Abu Dhabi Grand Prix in November.
Nico Rosberg's decision, though widely respected, opened a debate over the timing of his retirement, which came five days after he secured the world title at the season finale in Abu Dhabi