Former world junior golf champion Matthew Giles has produced a long-awaited tournament victory in Australia by taking out the Victorian Open.

Giles displayed renewed steel with a convincing birdie on the last hole to shoot a closing 67 and finish with a tournament total of 13-under par 275 at 13th Beach Golf Links at Barwon Heads.

It was good enough to snatch a one-shot win over up-and-coming amateur Nathan Holman (70) and rookie pro Ryan Lynch (68).

Stephen Dartnall and Neven Basic shared equal fourth place at 11-under after registering identical final rounds of 66.

Giles, from Sydney's Sutherland Shire, has long been regarded as an international prospect since joining Tiger Woods, Phil Mickelson, Ernie Els and Jason Day as world junior champions when he won the title in 2006.

But the strongly-built redhead has failed to live up to that promise since turning professional.

"(This win) does a lot for the confidence," he said.

"I haven't had the greatest year last year in 2012 and didn't have a very good summer (but) now the win takes care of that with an exemption so it's nice, gives me a little bit of cash.

"(So) I'm heading back to the (United) States in a couple of weeks to play some mini tours."

In the women's division of the tournament, favourite Stacey Keating showed she is able to overcome difficulties and still accelerate to victory.

At one stage during the final round, Spaniard Mireia Prat took over top spot on the leaderboard after making a birdie on the 14th hole.

But Keating, a proven winner of national titles playing the final group, wasn't going to lie down without a fight and a touch of good luck.

She made an emphatic statement with an eagle on the ninth to regain sole possession of the lead and on the par-three 12th hole her tee shot ricocheted off a spectator to two metres and she made the birdie putt.

After that good fortune she gradually pulled away to record a popular two-shot victory over England's Hannah Bourke and West Australian Kristie Smith.

"Very excited," she said. "It means everything this win."