Durbridge, of Orica GreenEdge, was part of an early breakaway that reached a maximum lead of over seven minutes, and he bided his time to prevail in a time of 5:00.46.
The Australian eventually rode the final lap and a half of the Geelong Road circuit on his own, and was able to savour his fine win down the finishing straight.
"The last six km was one of the most amazing feelings I have ever had," Durbridge said at the finish.
"It’s special to do the double. Everyone has pointed out that I am the first, and I guess that makes it even more special. My focus has been to win the time trial. With that done, I wanted to do my job for the team in the road race. My job became to win for the team. I’m happy I could pull off the win."
Michael Matthews, also of Orica GreenEdge, won the sprint for silver, while Garmin-Sharp’s Steele Von Hoff took bronze.
Will Walker (Drapac) suffered a puncture around the 60km mark, and a number of team-mates slowed to wait for their leader but it was Durbridge’s day.