On Sunday, Ms Gillard will have been prime minister for 935 days since she seized the top job from Mr Rudd in June 2010.
Mr Truss said Ms Gillard might celebrate beating her rival's record.
"The Australian people will not celebrate the record of either," he said in a statement on Sunday.
He said the two Labor prime ministers since November 2007 had similar records.
"With more debt, deficits, waste, boats, broken promises and increasing cost of living pressures on families," Mr Truss said.
Mr Truss said Ms Gillard promised to fix border security, the budget and the mining tax upon becoming prime minister.
"Julia Gillard has failed on all three counts," he said.
Mr Truss said Labor had deteriorated under Mr Rudd and Ms Gillard.
"Only a change of government will deliver Australia the good, competent and stable government that our country deserves," he said.
"The coalition, under Tony Abbott, has plans to create a strong and prosperous economy and a safe and secure Australia."
A federal election has to be held by November 30 this year.