Melbourne: US Open champion Samantha Stosur collected her second Newcombe medal to top off this year's stellar tennis season.

The 27-year-old was crowned the inaugural winner last year after reaching the French Open final, breaking a drought for Australian women in making a Grand Slam decider.

The Queenslander was a hot favourite to win the award. Wimbledon quarterfinalist Bernard Tomic, Shanghai Masters quarterfinalist Matthew Ebden and Jarmila Gajdosova, who achieved a career-high WTA ranking of 25, were also in the running for the award.

The Newcombe Medal, presented for the season's outstanding achievement in tennis was held at the Palladium Ballroom at Crown Casino Monday night with greats of Australian tennis including Goolagong Cawley present.

It had been 30 years since Wendy Turnbull lost to Hana Mandlikova in the 1980 Australian Open final and Evonne Goolagong Cawley beat Chris Evert at Wimbledon six months later.

But this year Stosur went one better, winning the US Open in September on a historic day in New York to become the first Australian Grand Slam champion since Lleyton Hewitt's 2002 Wimbledon triumph and the first woman in 31 years.

"It's such an honour to win the Newcombe Medal again this year and to have so many legendary Australian players here in the room makes it even more special," Stosur said.

"Winning the US Open is of course the pinnacle of my career to date."

"I'd like to thank my amazing team, especially my coach Dave Taylor, who has never stopped believing in me."

The last Australian female winner at Flushing Meadows was Margaret Court back in 1973.

What made the win even more remarkable was that Stosur was facing American favourite and 13-time Grand Slam champion, Serena Williams.