The Red Bull driver will start out in eighth place on the grid after he was punished during Friday’s practice session for driving too fast through sectors of the Melbourne track.
A red flag was raised and while stewards acknowledged he “slowed consistently and significantly”, but he was still disciplined.
The penalty also meant he picked up two points on his FIA Super License.
Ricciardo will need a real surge if he is to reel in Lewis Hamilton, who produced a magic lap in qualifying to start out on pole.
When asked how it would feel to win his home Grand Prix, Ricciardo told Sky Sports: “It would easily be the best victory I’ve had if I was to get one here at home.
“They already feel good so it would feel amazing.”
However, he hasn’t thought too much about potential victory celebrations.
He added: “I’m afraid to know.
“I’ll plan that spontaneously.”
Ricciardo also admitted after qualifying that the way Mercedes turned on the style was disheartening.
He said: “It’s frustrating cause, I’m over it, I think everyone else wants to see them [Mercedes] get challenged a bit more, so that was a little bit of a punch in the stomach to everyone.
“I know that obviously they’re loving it, they’re in a good position, but everyone else is hating it.
“Hopefully we can catch up, hopefully in the race they don’t have as much of that, cause that’s a bit scary, that mode they’ve got.”
