The shift would address the "mistake" of policy-making based on dependence on the US, the party's defence spokesman David Shoebridge said.
"Australia cannot continue to waste money on multi-billion dollar US weapons platforms, designed not to defend Australia but supplement Donald Trump's military," Senator Shoebridge said on Saturday.
Tanks and helicopters from the US were expensive and outdated, he added, while the acquisition of Virginia class nuclear submarines under the AUKUS treaty was more about signalling loyalty than defending the nation.
Australia should instead invest in local production of drones and medium to intermediate-range missiles for self-defence purposes, Senator Shoebridge said.
Some $4 billion in savings, the bulk of it from cancelling projects to acquire M1A2 tanks and Black Hawk helicopters, would go into domestic production under the Greens policy.
Concerns have been mounting about the AUKUS treaty under the Trump administration.
Under the trilateral agreement with the US and UK, Australia has been promised at least three Virginia-class submarines from the US in the early 2030s before a new fleet of boats is built for delivery from the 2040s.
Prime Minister Anthony Albanese insisted the agreement's future was safe in February after President Trump appeared not to know what it meant.
"There's a lot of acronyms in this business, and you know, we all get thrown at them from time to time," Mr Albanese said.
Opposition Leader Peter Dutton backed AUKUS this week, saying the need for the agreement was greater than ever.
The coalition has promised $3 billion to acquire 28 more F-35A fighter jets from the US if elected.
The government has recently announced investments on submarine torpedoes and local manufacturing of guided missiles, which both involve working with the US.
Elsewhere the Greens have announced a service to help communities prepare for fires, floods and cyclones it has dubbed a "climate army".
The Climate Response Service would be funded by making coal and gas producers pay more tax.
"Coal and gas are fuelling these fires and floods, but instead of protecting the community and properly funding the clean-up, Labor and (the Liberals) are making the problem worse by approving over 30 new coal and gas projects," Greens leader Adam Bandt said.
"A national Climate Response Service would help co-ordinate the thousands of volunteers who already do this lifesaving work across the country, and we'll make the coal and gas corporations pay for it."
Troops have been involved in response efforts for recent natural disasters.Â
More than a dozen defence force members were injured earlier in March while deployed to assist in the NSW northern rivers as tropical cyclone Alfred approached the region.
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