The world’s best wheelchair player, Patrick Anderson, scored 34 points at the North Greenwich Arena to help Canada take the gold medal and repeat their success at the 2000 and 2004 Games.
It was a bitter disappointment for Australia, who had beaten the Canadians to win the 2008 title in Beijing.
Led magnificently by 33-year-old Anderson, Canada scored almost 52 percent of their shots from the floor, while Shaun Norris led Australia’s scorers with 19 points.
The result left Australia with a second silver from the basketball competition after their women were beaten in the final by Germany on Friday.
The United States beat host nation Great Britain 61-46 to win the bronze medal in the men’s event.
Irfan Pathan's birthday: Popular brother duos in international cricket
Kumar Sangakkara birthday: Batsmen who hit the most Test double tons
Birthday special: 21 actresses who married businessmen
Photos: Alia Bhatt, Sidharth Malhotra watch 'Ae Dil Hai Mushkil'
Spotted: Aditya Roy Kapur with his mother in Bandra