To mark the milestone, Lego Australia on Sunday launched the Festival of Play, a nine-month schedule of activity paying homage to the brick and encouraging kids and adult fans to celebrate through play.
Throughout the campaign a series of hands-on events and elaborate creations, all inspired by the bricks, will be unveiled at Legofestival.com.au, with plenty of ways to get involved.
The Lego brick first arrived in the suitcase of British sales rep John Peddie in 1962.
Told by retailers it would never work here because our kids preferred being outside, he persevered, building many wonderful creations to demonstrate the endless possibilities of the bricks.
After months of door-to-door pitching, Peddie finally won over one department store in Sydney. Lego was off and running.
Today it is, and has been for years, the country's number one toy brand, with every Australian owning an average of 70 Lego bricks.
In 2011 alone, Lego Australia sold almost seven million sets.
"The brand name Lego comes from the Danish expression Leg Godt, which translates as play well," says Peddie, who is still a member on the Lego Australia board of directors.
"When first arriving in the country, this was my mission, to encourage Australia to play well and it remains the same today.
"Its amazing to see how imagination and just one suitcase of bricks have opened up a world of play for Aussie children.
"I'm so proud to have introduced the Lego phenomenon and its endless building possibilities to Australia."