Karrie Webb reeled in overnight leader Ai Miyazato with a final round of 67 to win her fifth ANZ Ladies Masters title.
ANZ MASTERS LEADERBOARD
-16 K Webb (Aus)
-15 A Miyazato (Jpn)
-12 V Zorzi (Ita) Maria Hjorth (Swe)
-11 Nikki Campbell (Aus)
The Australian started four behind Japan's Miyazato, but had an eagle and two birdies in the first four holes to soar to the top of the leaderboard.
Miyazato, 19, fought gamely, but was unable to rediscover her top form and carded a par 72 to finish second.
"It's a great start to the year and will give me some confidence to take back to the States," said Webb.
It was Webb's first victory since winning the LPGA Tour's Kellogg-Keebler Classic in June 2004.
But Miyazato narrowly missed a birdie putt of about 25 feet at the 18th that could have forced a play-off.
The Japan star shrugged off disappointment to reflect on a positive week.
"I played very well today but I couldn't get the putts to go in," she said.
"I'm not disappointed with my week."
Swede Maria Hjorth and Italian Veronica Zorzi shared third place at 12-under 276.