It was a dominant display from the hosts who led 20-6 at the break on the back of tries to debutant Will Skelton and Folau in Sydney.
The star duo combined again early in the second half and scored their fourth try on the hour through skipper Michael Hooper to put the contest beyond doubt.
It was a tough afternoon for the tourists who mustered a late consolation try to hooker Guilhem Guirado before Nick Phipps completed the five-tries-to-one romp five minutes from full-time.
The win completed the Wallabies' first ever 3-0 series whitewash over France and extended their unbeaten streak to seven Tests for the first time since 1999-2000.
It was a dream start to his international career for Skelton in front of 43,188 appreciative fans.
Australia's biggest-ever Wallaby crashed over for his first Test try in the eighth minute and threw a pass any fly-half would be proud of to set up Folau's second early in the second half.
The Waratahs star received a standing ovation from the Sydney crowd when he was replaced in the 57th minute after a debut that will have long-suffering Wallabies fans daring to dream of brighter days ahead.
Folau, who is firmly on the radar of rugby league, also sent a timely reminder to Australian Rugby Union CEO Bill Pulver of his importance to the future of Australian rugby with another dominant display.
Captain Hooper once again led from the front alongside man-of-the-match Wycliff Palu, while flyhalf Bernard Foley landed six-from-seven with the boot and was assured in general play in the absence of injured number 10 Quade Cooper.
The Wallabies will now return to their Super Rugby clubs before reconvening for the opening Bledisloe Cup clash against the All Blacks in Sydney on August 16.
Foley opened the scoring in just the third minute with a long-range penalty goal.
Maxime Machenaud missed a relatively simple attempt to level and the Wallabies strung several phases together before Skelton steamrolled his way over for his first Test try.
The 203cm, 135kg giant got the ball off Nic White 10 metres out from the line and monstered Fulgence Ouedraogo before flicking off Fofana to slam the ball down to the delight of the Sydney crowd.
Foley converted to make it 10-0 after as many minutes.
Brice Dulin got Les Bleus on the board with a 51m penalty goal in the 16th minute but Foley answered immediately with his second penalty.
The Wallabies continued to dominate and France's woes were compounded when tighthead prop Rabah Slimani was yellow carded for tackling Hooper without the ball in the 27th minute.
Replays showed it was a harsh call against the tourists but the Wallabies took full advantage as Folau scored the hosts' second try a minute later.
Matt Toomua received the ball from White down the short-side and held his final pass up just enough to give Folau time to get on the outside of two defenders and dive over in the corner.
Skelton's dream debut continued after the break when he jinked at the line and threw a sublime pass for Folau to steam through a gap and over for his second try just two minutes in.