She became the first woman to dip below the 33-second barrier in the 500-metre time trial with a time of 32.836 seconds.
Her previous world record in the event was set in Melbourne in 2012 - a time of 33.010 seconds.
“It’s a huge milestone,” Meares said after the event.
“Not just for me, but for the sport. I knew that [breaking the 33-second barrier] was going to be possible on this track because of the altitude, especially considering how close I got to that time at the world titles in Melbourne in 2012."
Age 20 in Athens WR 33.952 Age 30 in Mexico WR 32.836 First to ride under 34 and 33. #Humbled #Satisfied #ProudAussie
— Anna Meares (@AnnaMeares) December 7, 2013
Meares took honours ahead of Germany's Miriam Welte and Hong Kong's Wai Sze Lee.
“It was very nerve racking because I appreciate the quality of the other women,” said Meares.
“Obviously world champion Wai Sze Lee was very capable of riding a sub-33 time but it was hard to estimate what sort of times the others would post.
"There’s a whole team behind me that make me the athlete that I am, especially my coach Gary West.”
Before I go to bed... Here's a snap of me and my coach, Gary West, after the medal ceremony tonight :) pic.twitter.com/DqKMKs4GfV
— Anna Meares (@AnnaMeares) December 7, 2013
Meares is an ambassador of the Port Adelaide Football Club and regularly meets with the club's players as part of ongoing leadership and athlete development programs.
She also works with the club's community development arm Power Community Ltd in a number of empowerment and education programs for women and girls.
The club congratulates Anna on her latest achievement.