The World No.20 started Sunday's final round at 13th Beach with a one-shot lead over Queensland teenager Karis Davidson, with another two strokes to LPGA Tour rookie Hannah Green.

That advantage had blown out to four shots by the 5th hole courtesy of a spectacular eagle-three by Lee, with the tournament effectively in her keeping.

Playing near flawless golf, Lee eventually signed for a six-under 67 and a four-round tally of 13-under 279.

In her first four-round event as a pro, Davidson, 19, hung tough for a 71 to finish five shots adrift in second spot.

The 21-year-old Green was tied for third on 285 with 2016 Vic Open champ Georgia Hall from England.

"I was a little bit nervous out there coming down the stretch," said Lee, who won her first Vic Open title as a 17-year-old amateur back in 2014 and has since gone on to salute three times on the LPGA Tour.

"But I knew I had somewhat of a lead so I could just play.

"Most of the pressure I put on myself so it's nice to come out with the win.

"Overall it's pretty tough to win anywhere, but to win at home is a little bit more added pressure."

Minjee Lee has captured the VicOpen for the second time in four years. PHOTO: Supplied by Golf Victoria

Lee will finalise her preparations for the upcoming Women's Australian Open in Adelaide by playing in the Canberra Classic beginning on Friday.

"It's a great confidence booster to have a win here and hopefully I can carry it on to the next two weeks," the West Australian said.

Davidson – who lost the 2014 Australian Amateur final to Lee as a 15-year-old – has made a flying start to her pro career, earning full rights on the tough Japan Tour for 2018 and now finishing outright second at 13th Beach.

"This is where I want to be," she said.

"I did quite well in a couple of amateur competitions so I guess that helped me keep calm today.

"It's a great start but I've just got to keep my feet on the ground.

"I've got a big year up ahead and hopefully a long career in golf."

– John Salvado, Australian Associated Press.