Final result:

S Williams (US) bt M SHARAPOVA (Rus)

6-1 6-2

Interview: Australian Open champion Serena Williams

Interview: Runner-up Maria Sharapova

By Piers Newbery

Second set:

Sharapova 2-6 Williams
Amazing. Williams hammers down two huge aces to get to 40-0 and takes the title with a backhand winner before falling to the ground in celebration. The players share a word and a smile at the net before Serena bounds off towards her family and friends. Sharapova, meanwhile, sits in her chair and looks absolutely stunned.

Sharapova 2-5 Williams
Sharapova keeps the match alive and makes the score slightly more respectable but surely the end is nigh.

Sharapova 1-5 Williams
Williams continues to send Sharapova scrambling around behind the baseline and gets to 40-15. Sharapova challenges a Williams serve but Hawkeye says it landed smack on the line.

Sharapova 1-4 Williams
Sharapova gets off the mark in this set and clenches her fist on her way back to the chair - she's nothing if not a fighter but at the moment she's being outhit.

Sharapova 0-4 Williams
An eighth Grand Slam title is looming large now for Williams, who seals a comprehensive hold with her fifth ace of the match.

Sharapova 0-3 Williams
If ever there was a must-win game, that was it for Sharapova. At 40-30 she has a chance but throws in her fourth double of the match and does not look happy at all on serve. Williams earns two more break points from deuce but Sharapova hangs on, saving the second with an ace. Double fault number five follows, however, and Sharapova gives up the break when she nets a forehand.

Sharapova 0-2 Williams
Williams powers to 40-0 with more huge serving but Sharapova gets back to 40-30 when the American misses a couple of first serves. Two double faults follow and for the first time a buzz goes around the crowd - could we be in for a contest? Nope, Williams smacks down an ace and two unreturnable serves.

"This is better than anything I saw on the women's tour last year - this is unplayable."
BBC Sport's Sam Smith

Sharapova 0-1 Williams
Sharapova opens with a double fault and soon finds herself 15-40 down. Williams takes the first break point with a blistering backhand winner down the line and she looks in a different class at the moment.

First set:

Sharapova 1-6 Williams
Williams completes a superb set by holding to 30 and the American looks frighteningly intense out there. You wouldn't catch me aiming too many smashes at her. It took 27 minutes and saw 15 Williams' winners to Sharapova's five.

"I think it's a mental battle for Sharapova at the moment and she needs to get a lead in this second set."
BBC Sport's Chris Bailey

Sharapova 1-5 Williams
A dramatic start to the game sees Sharapova fire a smash straight into the not inconsiderable Williams midriff. The Russian gives the smallest of apologetic waves and heads back to the baseline, while Williams gives her a lengthy stare and mutters something presumably quite unpleasant. Good stuff. Sharapova takes the game to love and gives it some "C'mon!"

Sharapova 0-5 Williams
A couple of sloppy errors from Williams give Sharapova an unexpected break point but she fires the return way over the baseline. Williams follows up with a deft drop volley on her way to holding serve and she has hit 12 winners in five games, while Sharapova has yet to make one.

"It's like we've jumped in a tardis and been taken back in time to 2005. This is the Serena Williams of old."
BBC Sport's Chris Bailey

Sharapova 0-4 Williams
Sharapova spends the changeover muttering away to herself and she looks shell-shocked at the moment. Williams moves to 0-40 and three more break points with a thumping forehand return and repeats the trick to get the double break. This could be over pretty quickly.

Sharapova 0-3 Williams
Williams has not played in a Grand Slam final for two years and looks happy to be back. She's serving superbly and takes a love game with a serve-volley.

"Williams for me is all business and Sharapova has had an unsettled start."
BBC Sport's Chris Bailey

Sharapova 0-2 Williams
Williams looks the sharper in the early stages, putting the Sharapova serve under huge pressure with some fizzing returns. That may explain why the Russian throws in a couple of double faults, helping Williams to a break point which she takes when Sharapova nets a forehand.

Sharapova 0-1 Williams
Williams opens with a big serve and puts away the second ball confidently. A similarly impressive backhand winner and an ace suggest she is not suffering from too many nerves.

0235: Sharapova wins the toss and will receive serve.

0230: Both players give the briefest of interviews before they make their way through the maze of tunnels under Rod Laver Arena. Bit harsh making them speak seconds before a Grand Slam final I think.

0225: The roof is closed on the Rod Laver Arena as it's cold and wet outside. Inside, the crowd is treated to some singing from four "young divas", according to the announcer. Nice.