Mr Austin recalled his work with the Tony Blair and Gordon Brown governments, saying he was also "proud to be an active member of Labour Friends of Israel."
He added that "historically Labour had always been steadfast in its support of Israel", but that "everything changed with the election of an obscure backbencher named Jeremy Corbyn."
Mr Austin said his parents had taught him not to stand by when he witnessed prejudice and bigotry.
He said he campaigned against "one sided attacks against Israel, each and every time they reared their head."
He recalled how a meeting with a survivor in Auschwitz, who had questioned how he could remain in Labour, was the moment he realised he could no longer stay in the party.
Telling the conference of his efforts to stop Mr Corbyn becoming Prime Minister last December, Mr Austin said: "Indeed, in December Jeremy Corbyn received one of the worst defeats in UK history.
"I am so proud, so proud of the way ordinary decent British people rejected racism and discrimination and stood up for the Jewish community."
Stressing how he opposed boycotts of Israel, Mr Austin called for Israel, the UK and the US to "work together to share democratic values and secure peace throughout the world."
He added that the antisemitism and anti-Zionism had yet to be defeated but added: "You can always count on me in this battle ahead."
