With the game locked at 1-1 after extra time, it went to penalties before Australia won 5-4.

North Korea missed their second penalty while Kylie Ledbrook, Sally Shipard, Kate Gill and Heather Garriock all scored before Simon confirmed the Asian Cup in thrilling circumstances.

Rising star 16-year-old Sam Kerr's composed strike had put Australia ahead just 20  minutes into the game but that was cancelled out by a DPR header with 15 minutes left in normal time.

And after Claire Polkinghorne missed an absolute sitter just 60 seconds later the game went to extra time.

In driving rain and in atrocious conditions, North Korea hit the post in the first minute and Aussie keeper Melissa Barbieri's clearance in the  second half almost ricocheted into the Matildas' goal.

But an exhausted Australia held on for the shootout decider.

With World Cup qualification already in the bag, the Australians capped a stunning tournament with the win while Kerr confirmed her status as the next big thing in Aussie women's football with her second goal of the tournament.

The win was all the more creditable given the Australians were without starting XI strikers Sarah Walsh and Lisa de Vanna.

The Matildas were well served by midfield organizers Collette McCallum and Sally Shipard while defenders Claire Polkinghorne and Servet Uzunlar were outstanding in a gruelling final played in mostly driving rain.

The Australians are set to return to a heroines' welcome in coming days.