According to the study findings gathered by medical research group Baker IDI Heart and Diabetes Institute, four out of five women ages ranging from 45 to 64 presented to their GP with dangerously high levels of bad cholesterol - LDL.
Professor Simon Stewart from Baker IDI said the results were from the data analysis of 200,000 GP patient cholesterol records from 2004 to 2009.
He warned Australians that this should be a wake-up call, particularly for middle aged women.
The findings also revealed that 34 per cent of study participants had levels of good cholesterol -HDL- lower than the desired level that is beneficial for heart health protection.
Another conclusion of the study was that Australian women has an averag total cholesterol level of 5.5 compared to their male counterparts which has an average of 5.3.
Prof Stewart said, It is concerning to find that many women are neglecting their heart health.
Australia's Cholesterol Crossroads stated the findings were worrying due to the association between heart disease and the level of cholesterol.
According to Prof Stewart, cardiovascular disease is the highest cause of death in Australian women and the findings suggest there could be over a million middle aged women and more than two million adult women having levels of cholesterol above their ideal levels.
The study also set the records straight about the perception that typically women with lower income had high cholesterol levels.
The levels of good, bad and total cholesterol between patients in GP clinics in both high and low income areas were consistent, revealed the study.
Because of the change in the dietary patterns and lifestyles observed in all sections of the community, Prof Stewart said the health and wealth differences with relation to cholesterol level may not exist anymore.