Watch highlights of the Women's final. (Broadband)

Serena Williams captured the last Grand Slam title to elude her with a tension-filled 7-6 (7-4) 3-6 6-4 win against sister Venus.

The world number one becomes only the fifth player in history to hold all four Slams simultaneously, with Venus the first to lose four straight finals.

Both players were guilty of errors, but it was Venus' shaky serve which proved to be the key to the outcome.

The older sister's second serve was particularly weak and Serena pounced on it time and again to put her opponent under increasing pressure.

I never get choked up but I'm really, really emotional right now Serena Williams

Serena edged the first set, despite Venus serving for it at 5-4.

Having seen that opportunity slide by, the second seed's game crumbled alarmingly in the tiebreak and though Serena was hardly emphatic, missing three set points, she did enough to take the advantage.

But Venus, who had lost in straight sets to her sister in each of the last three Grand Slam finals, was in dogged mood.

Serena allowed her focus to slip at 2-3 in the second set and Venus needed no second invitation to clinch the break.

This time she held on, but it was still far from comfortable for the 22-year-old whose second serve was becoming a liability.

I wish I could have won today but Serena is a great champion Venus Williams

The pair traded breaks at the beginning of the deciding set but Serena always had the edge.

Venus again demonstrated her determination to end Serena's domination by fighting off five break points at 3-4 but it only delayed her younger sister's title charge.

In the second seed's next service game, at 4-5, Venus' demons returned and a weak double fault handed Serena two championship points.

She needed only one as, under pressure, Venus floated a forehand long to hand her sister her 'Serena Slam'.