Mobile phone footage shows Ms Mirabella being guided out of the room while people shout chants.

They appear to be protesting against recent changes to higher education that could result in students paying higher fees and greater interest on loans for their degrees.

The Socialist Alternative protesters also hijacked the university computer system and put up photos of Margaret Thatcher.

Ms Mirabella later returned to deliver the rest of her lecture on politics and the media, after police and security ejected the rowdy protesters.

Click below to see footage of Sophie Mirabella being escorted from the Melbourne University lecture. Video courtesy of 3AW Melbourne.

The former MP was appointed a public policy fellow at her alma mater in March, in a role the university said would involve her assisting students, delivering lectures and organising public policy seminars and forums.

Earlier this year the Abbott government announced Ms Mirabella would be joining the Australian Submarine Board.

Last week Foreign Minister Julie Bishop was mobbed by students when she visited the University of Sydney. Security staff had to usher Ms Bishop from the scene while students heckled her.

First-year arts student Kate Lawrence said students were notified last night that Ms Mirabella would deliver the morning's lecture.

She said a group of protesters entered the lecture theatre, including two with megaphones, and began yelling before the former MP was led away.

Some protesters confronted Ms Mirabella at front of the theatre.

Ms Mirabella also took questions from the students at the end of the lecture. "She came back in and everybody was applauding," Ms Lawrence said.

Police confirmed they were called to the Grattan Street campus about 10am where about 20 protesters were demonstrating. There were no injuries or arrests. Police have no plans to pursue the matter any further at this stage.

- THE AGE