In the meantime Ko had won in 2012 and was the defending champion but as valiant as her attempt was to successfully hold the title, Ko fell two short.
Tied in the lead with Minjee Lee heading into the final round at the Oatlands Golf Club in Sydney, Hedwall birdied four of her first seven holes to open up a lead but through 14 holes she and Ko were tied at 11under par before Ko bogeyed the 17th and Hedwall birdied the last to win by two.
Lee threatened to join the party before she bogeyed the 12th and although she birdied the 16th she could not catch those ahead. Lee finished in 3rd position, one behind Ko.
Queenslander Bree Arthur and Victorian Stacey Keating finished 4th and 5th respectively.
Most of those involved this week now head north to a rain soaked Gold Coast for the Volvik RACV Ladies Masters.