News Corp reports Shane Andrew Matthews pleaded guilty to 56 charges relating to sexual abuse of his students at Wattle Grove Public School.
Matthews left Wattle Grove for an assistant principal position at Woodland Road Public School last year.
The 30-year-old former teacher was accused of grooming young boys by offering them fake money and prizes on 'Superhero' days.
According to The Daily Telegraph, several victims and their parents burst into tears when the guilty pleas were entered.
The abuse allegedly occurred in a classroom during lessons or 'private sessions' between the years of 2011 and 2015.
Matthews reportedly asked students to perform acts on themselves or him performing sexual acts on them.
Matthews allegedly encouraged young boys to perform or receive sexual acts to receive fake money, which would then be used to buy various stationary items at class auctions.
The disgraced teacher was arrested in September last year and originally charged with 14 offences but more were added as victims became brave enough to come forward.
Matthews will remain behind bars until his next scheduled court appearance in February.