Both competitors were great throughout the tournament, but Djokovic came out on top with a score of 6-7, 7-6, 6-3, 6-2.
The top seed came into the Open as the favorite, and he powered through his competition, save for a fourth-round scare against Stanislas Wawrinka. After a mild start in the final, he pulled away late to claim yet another Grand Slam.
Sky Sports tweeted about the historical significance of the victory:
Sky Sports News HQ @SkySportsNewsHQ
Novak Djokovic becomes first man to win three straight Australian Open titles after 6-7 7-6 6-3 6-2 victory over Andy Murray #SSN2013-1-27 12:24:57
For Murray, this was a step back after a very good run in 2012, as he looked overwhelmed by Djokovic for stretches in this men's final.
The Scottish star spent the past few years trying to rewrite the narrative that he could not win a Grand Slam championship. He was consistently among the top players in the world and had reached a Slam final four times, but failed to notch a win.
He finally broke through at the end of 2012 by defeating Djokovic in the U.S. Open final to win his first career Grand Slam title.
This came on the heels of an impressive performance at the London Summer Olympics, where he earned the gold medal with a victory over Roger Federer.
Murray continued his great run into the beginning of 2013, winning the ATP Brisbane International to help prepare him for the Australian Open.
Of course, with great play comes high expectations, and Murray was unable to match those in Australia. Even defeating Federer, whose number he's had of late, in the semifinal is not enough after winning a Grand Slam.
Both competitors have a lot to play for in 2013, but fans have been treated to some excellent play early, setting the tone for a career crossroads for Murray and a potentially dominant 2013 for Djokovic.