Today's event marks Westacott's last at the helm of the Australian GP and brings the curtain down on a stint that began in 2006.
Westacott bows out with F1 in a strong position locally courtesy of sell-out and record crowds, and a contract to continue hosting the sport until 2035.
“For sure, Andrew has been part of this corporation for many years, he's done an incredible job,” Domenicali told Speedcafe in an exclusive interview.
“The growth of the sport is related to the fact that Andrew, under the supervision of Paul Little, did really well – the team did an incredible job.
“To have more than 450,000 people for the weekend is just massive, it's just great.
“The atmosphere you live here in Melbourne, at Albert Park, is just magic because you have incredibly passionate people.
“You go into the city, they talk about Formula 1, so that's really what we want.”
Domenicali focusing on long-term vision for Melbourne
The long-term stability of the event is good news both for the sport and local organisers, who can now begin to make long-term plans.
F1 has been coming to Australia since 1985, initially to Adelaide before the event relocated to its current home in 1996.
With strong support both from fans but also the Victoria state government, Domenicali suggests the event is something of a gold standard globally.
“Australia is very important,” he asserted.
“You are really having a very important role, even if the country is far away from the other continents, but it's beautiful to see what it's doing.
“The fact that we can really plan long-term vision now means we can really have the time to invest together and create possible new events, new things together.
“That's something that felt really fantastic to see, also how the political parties understand the importance of the event and the importance of Formula 1 here in Australia.
“So very, very pleased about that.”
Today's F1 Australian Grand Prix begins at 15:00 AEST.