Italian veteran Valentino Rossi has won the Australian MotoGP on Phillip Island with champion Marc Marquez crashing out late.

The Spaniard, who wrapped up his second MotoGP crown last round in Japan, sensationally lost control of his Honda coming down the hill at Lukey Heights with ten laps remaining.

Previously trailing by more than four seconds, Rossi sped past a stranded but unhurt Marquez for his sixth MotoGP win on Phillip Island and first since 2005.

The popular Rossi won from eighth on the grid – just as Australian Jack Miller had done in the Moto3 race earlier in the day.

Rossi’s victory came ahead of Yamaha teammate Jorge Lorenzo and Brad Smith was third.