The Kath and Kim star shared the news on her Instagram on Friday, about nine months on from being diagnosed with stage-four mantle cell lymphoma, described as a "rare and fast-moving blood cancer".
"I wanted to share the fantastic news, which is I've completed chemo and I am now in remission - so phew, big relief," Szubanski said on Instagram.
"It's not a cure, but because I got a good remission, that hopefully means I'll keep the cancer at bay for a good long time."
Best known for winning the hearts of Australians as the sporty, unlucky-in-love Sharon Strzelecki in sitcom Kath and Kim, Szubanski said she was "eternally grateful" to her medical team and public well-wishers.
She sported short hair that had regrown since she had shaved her head to prepare for the treatment in May.
Her portrayal of Sharon sparked character roles in smash-hit movies including Babe and Happy Feet.
She first burst onto Australian screens in the mid-1980s after being picked up by ABC talent scouts watching her perform in a university revue.
Her credits also include sketch shows Fast Forward and critically acclaimed Big Girl's Blouse, alongside Kath and Kim co-writers Gina Riley and Jane Turner.
Szubanski, a staunch LGBTQI rights activist, began her announcement by wishing followers a happy Mardi Gras.
The Glitter Club - described as a premium vantage point for the Mardi Gras parade in Sydney's Taylor Square - has been rebranded Magda's Glitter Club for Saturday's marquee event.
"I am so gutted I can't be there. I'm afraid it's unavoidable, but have a wonderful time and big love to you all," she said.
In 2018, she was appointed an Officer of the Order of Australia for her contribution to the marriage equality campaign.
22°C