Ashleigh Buhai has an eye on great mate Karrie Webb's record haul after holding on to become the first back-to-back Women's Australian Open champion in more than a decade.

The steely South African denied Minjee Lee an elusive maiden national championship with a tension-filled one-stroke triumph over Australia's popular pre-tournament favourite.

Buhai closed with a nervy three-over 75 at The Australian on Sunday to finish with a nine-under 280 total and successfully defend the title she won last year at the Victoria Golf Club in Melbourne.

The 34-year-old is the first player to win successive Opens since Taiwan's former world No.1 and five-time major champion Yani Tseng in 2011.

But the 2022 Woman’s Open champion may not be done yet.

After exchanging text messages from five-time Open champ Webb throughout the tournament, the triumphant Buhai said "of course" she planned on returning for years to come to try to match the legend's tally.

"That would be quite some record to beat. I'll keep coming back down here as long as you'll have me," said Buhai, who has family in Australia.

"Everybody knows that I love coming here every year."

Despite being as many as four shots in front down the stretch, Buhai's victory was anything but comfortable.

Incredibly, the champion couldn't find a single par all round, while the vanquished runner-up rolled in eight.

Champion Ashleigh Buhai cops a drenching after tapping in for the win. PHOTO: Getty Images.

"I'm happy but I'm a little unhappy at the same time. My second-day (75), I let myself down a little bit," Lee said.

"But other than that I had a pretty good tournament, despite being tired getting over here (from the US)."

Trailing by four shots with five holes to play, Lee cut Buhai's lead to just one heading up the final hole after the 2022 Women’s Open champion found the water on the 17th.

However, a precious par on No.18 was enough for Buhai as Lee was unable to fashion a ninth birdie in an otherwise valiant three-under round of 69.

After starting the day seven strokes behind, Lee knew she needed to conjure something special – and she delivered, with six birdies in the first 10 holes.

Some wretched bad luck on the 11th hole, when her ball ensconced itself deep in the upslope of a bunker, could have cruelled her momentum.

But the World No.5 brushed off the bogey and swiftly posted a bounce-back birdie on the 12th.

Lee's hopes again appeared to evaporate when she double-bogeyed the par-4 13th after leaving her approach short, then watched her too-cute chip shot spin back off the green.

But Buhai offered her a lifeline with successive bogeys of her own on the 13th and 14th – her first blemishes since Friday – and the home hope replied with her eighth birdie to reduce the deficit to two shots once again.

A packed house watches Minjee Lee play her third shot into the par-5 18th. PHOTO: Getty Images.

Alas for Lee, Buhai calmly two-putted from 12 feet on the 72nd hole to close out the championship.

Lee's latest near miss – in ten Open appearances she has finished in the top-10 five times – extends the home title drought, with legendary Karrie Webb’s victory in 2014 being the last time an Australian claimed the Patricia Bridges Bowl.

For Buhai, she joins Webb (2007-08) and Tseng as the only back-to-back winners of the championship in its 49-year history.

Former World No.1 and five-time major winner Jiyai Shin, who closed with a 77, shared third with fellow Korean but unrelated Jenny Shin (72) after also getting to within one shot of Buhai early.

They finished at four-under, five strokes back, and one ahead of West Australian Hannah Green, who, like Lee, posted her second successive top-five finish after a three-under 70 in the final round.

Compatriot Steph Kyriacou (73) shared fifth place with Green.