"This was by far the biggest production we had in Vienna at least since I can remember," Marijana Stoisits, managing director of the Vienna Film Commission told the Hollywood Reporter website.
Tickets for the premiere are only available from the film's production company, Paramount Pictures, and its subcontractors.
More than 400 people worked on the Mission: Impossible shoots - which involved an explosion in the city centre.
Under a government incentives scheme, foreign film productions can get up to 25 percent of their expenses in Austria, capped at €1.1 million. Hollywood productions are seen as a boon to the city as they employ local crews and strengthen their skills, bring an economic boost and give audiences worldwide a glimpse of Vienna.
One of the biggest challenges was closing down Vienna's Ringstrasse for four days during the shoot, the central road which gives access to many of the city's key sights.
Ahead of the world premiere, the Ringstrasse will also be partially closed on Wednesday and Thursday.
"During shooting Tom Cruise said it would be fantastic to premiere the film in the State Opera, and I agreed," Stoisits said.
"I am very pleased that Tom Cruise and his team were so excited to film in the Vienna State Opera, and that they accepted our invitation to celebrate the world premiere here. I'm sure it will be a great party, and Vienna will again be the focus of international attention,” Opera director Dominique Meyer said.
The film, which was also shot in London and Morocco, opens in US cinemas on July 31st and in Austrian cinemas from August 6th.