The seismic data from NASA’s InSight lander mission have significantly enhanced our understanding of Mars’ interior structure, a key aspect of our neighbouring terrestrial planet. However, the lack of a widely accepted crustal and lithospheric seismic velocity model for Mars underscores the necessity for continued investigation. Our study proposes an innovative approach utilizing joint inversion of auto-correlation (ACF) and cross-correlation function (CCF) data from high-quality teleseismic marsquakes recorded by the unique seismometer on Mars. To enhance sensitivity to weak reflections, spectral whitening is applied during ACF calculation. Synthetic tests are conducted to validate the efficacy of the joint ACF and CCF inversion strategy using various synthetic velocity models. We then apply the inversion to the observed ACF and CCF and solve for the Vp, Vs and thickness of a 3-layer model over a half-space beneath the seismometer. Our results agree with and further refine a previous model of the Martian lithosphere obtained from receiver function inversion. The absence of a significant Vp/Vs contrast at the second crustal discontinuity suggests the possibility of underplating. This improved crustal and lithospheric velocity model will also contribute to advancing interpretation and exploration efforts in the planetary science community.