New Zealand may have been thrashed by Australia in the World Cup final but they dominate the International Cricket Council's team of the tournament released Monday with Brendon McCullum named captain.

The New Zealand skipper is one of five Black Caps in the side that also includes three Australians.

McCullum was chosen as the captain following his aggressive, innovative and inspirational leadership during the 44-day tournament that was the cornerstone of his team’s progression to the final, the ICC said in a statement.

He scored 328 runs in nine matches with four half-centuries at a strike-rate of 188.50.

The other New Zealanders in the line up are Corey Anderson, Trent Boult, Martin Guptill, and Daniel Vettori.

Glenn Maxwell, Steve Smith and Mitchell Starc were selected from the world champion Australian side along with South Africans AB de Villiers and Morne Morkel, with Sri Lanka’s Kumar Sangakkara as wicketkeeper-batsman.

Brendan Taylor of Zimbabwe was named 12th man.

The selection panel said batsmen Mahmudullah (Bangladesh) and Shaiman Anwar (United Arab Emirates), fast bowlers Umesh Yadav and Mohammad Shami from India, Pakistan's Wahab Riaz as well as South African spinner Imran Tahir and India's Ravi Ashwin were unlucky to miss selection.

The panel had an extremely difficult choice of selecting a 12-member squad at the back of an outstanding tournament, panel chairman and ICC general manager cricket Geoff Allardice said.

They had to take into consideration several eye-catching performances including two double-centuries, 38 centuries, two hat-tricks and 28 four-wicket hauls.

The panel eventually came up with this side, which, in their view, was the most balanced outfit that is capable of beating any side on any given day, Allardice added.

ICC team: Martin Guptill (NZL), Brendon McCullum (NZL - capt), Kumar Sangakkara (SRI), Steve Smith (AUS), AB de Villiers (RSA), Glenn Maxwell (AUS), Corey Anderson (NZL), Daniel Vettori (NZL), Mitchell Starc (AUS), Trent Boult (NZL), Morne Morkel (RSA), Brendan Taylor (ZIM - 12th man)