Serena, 35, had been tied with Steffi Graf at 22 major titles.
This is also Serena's 7th Australian Open title --- tying Margaret Court for the most by any player in the Open Era
Serena is one title behind Court, who has 24 overall Grand Slam titles in the Open and amateur eras.
With this win, Serena will retake her title as the world's number one player. She takes the title from Angelique Kerber who claimed the no. 1 ranking after winning the 2016 US Open.
Following Serena's win, Nike released the following ad which aired in the U.S.:
Tennis legend Billie Jean King tweeted congratulatory remarks to Serena, writing, "Congrats @serenawilliams on your 23rd major title and return to the top of the @WTA rankings. You are a history maker and a trailblazer."
King also directed a tweet to Venus, writing, "To @Venuseswilliams: Thanks for showing us it's never too late. What an amazing run and what an amazing life. #championforever."