The 55-year-old Underbelly star pleaded guilty in Melbourne Magistrates Court on Wednesday to drug driving, driving whilst unlicensed and giving police false details.
Colosimo was driving his silver Peugeot to his mother's place in April last year when police intercepted him after picking up on his registration, which revealed he was unlicensed, the court was told.
He initially said he did not have his licence on him, telling officers he was Antonio Colosimo and had a twin brother.
Colosimo pleaded with police not to test him for drugs, ultimately admitting to using marijuana some days before.
Officers later found methamphetamine in his sample.
Colosimo ultimately came clean to police and said he'd lost his licence months earlier. It was cancelled in 2017, with Colosimo having prior offences for driving while suspended.
He hadn't applied for a new licence by 2021.
Magistrate Olivia Trumble said that was "probably pretty foolish" of Colosimo and he should have found the time to get a new licence.
He didn't because of work and family commitments, lawyer George Vassis said.
The actor was "deeply embarrassed" by his conduct and publicity around his case added to his punishment, Mr Vassis said.
The media attention surrounding Colosimo probably contributed to him giving a false name, Ms Trumble suggested.
Colosimo has more than 160 unpaid fines totalling more than $65,000, the court was told. The magistrate urged him to take his "head out of the sand" and set up payment plans for what he owed.
"I understand that," Colosimo responded.
Prosecutor Bianca Moleta pushed for Colosimo to receive jail time, saying he was warned when he faced court in 2017 he risked time behind bars if he ever came back.
However, Ms Trumble decided a jail term was inappropriate, telling Colosimo: "Whilst you may not be completely there, you are on a particular path to recovery".
Ms Trumble fined him $2500 and disqualified his licence for 16 months.
Colosimo portrayed Melbourne gangland figure Alphonse Gangitano in Underbelly.
He's also appeared in Hollywood films Body of Lies and The Great Gatsby alongside Leonardo DiCaprio, as well as Australian features Lantana, Chopper and The Wog Boy.
The third film iteration in The Wog Boy franchise, Wog Boys Forever, was released this month.