A Newspoll, published by The Australian on Tuesday, shows Mr Abbott and Mr Shorten are now equally preferred PM by 38 per cent of voters each.
This is a large improvement for Mr Abbott who trailed Mr Shorten by 11 points in March.
Mr Abbott's personal rating also increased to a seven-month high of 37 per cent, although a majority (56 per cent) of voters continue to disapprove of his performance.
Mr Shorten's personal approval numbers are now similar to Mr Abbott with 34 per cent approving and 50 per cent disapproving.
Overall, the poll showed a slight improvement in the two-party preferred polling for Labor, up 1 point in the past three weeks to 52 per cent to the Coalition's 48 per cent.
A rival poll by Roy Morgan, published on Monday, had Labor down one point in the past fortnight to 53 per cent and the Coalition on 47 per cent on a two-party preferred basis.
The small difference between the polls, both based on preference flow at the last election, is well within their respective margins of error and indicate Labor is comfortably ahead of the government.