Political polarisation in the United States is impacting its world standing, the prime minister warns, as Joe Biden faces pressure to step aside.
While former president Donald Trump accepted the Republican Party's presidential nomination for the third time, senior Democrats have urged Mr Biden to stand down from the election race.
Former president Barack Obama has reportedly conveyed to Mr Biden private concerns about his candidacy in the November election.
While he would not comment on Mr Biden's political fate, Anthony Albanese said the general discourse in American politics was a concern.
"We see the polarisation in the United States is not healthy, and it is not something that is lifting up the United States' standing in the world," the prime minister said on Friday.
He later told reporters Australia would work closely alongside the US, regardless of who won the presidential race.
"The relationship between our two great nations is a relationship based upon our common values, our support for democratic values and human rights, our support for our relationship through our alliance as well," he said.
"There will be a great deal of interest in the US presidential race and all of us will have our personal views on those issues but it's important, as Prime Minister, that I allow those democratic processes to take place.
"I wish Joe Biden well. As president of the United States, I have had a very positive relationship with him, and on a personal level."
Mr Biden returned to his home in Delaware after testing positive for COVID-19.
The political turbulence has raised questions over the future of a nuclear submarine deal between the US, UK and Australia, known as AUKUS.
Resources Minister Madeleine King insisted AUKUS would remain, regardless of the result in November.
"Our alliance with the US is safe no matter who's president, just like it's safe no matter with the UK, no matter who is leading the United Kingdom," she said.
"We are all representative democracies, we operate a bit differently, of course we do, but I have a lot of confidence that AUKUS will remain."
