Amy Shark has today been announced as the winner of the prestigious Vanda & Young Songwriting Competition for her breakout hit, Adore, receiving a cash prize of $50,000.

It comes just one day after the ARIA Award-winning songwriter was awarded $46,000 in Australia Council grants to play a number of US and Canadian shows.

"It's such an honour to win the 2018 Vanda & Young Song Comp for Adore," Shark said.

"I wrote this song in my bedroom and it's a testament to what just one piece of music can do and how important it is to keep doing what you love."

Meanwhile, Gang Of Youths frontman Dave Le'aupepe has claimed both the second and third prizes of $10,000 and $5,000 with Let Me Down Easy and The Heart Is A Muscle.

"There’s a sense of discomfort I feel when it comes to these things, because accepting praise is not exactly my forte," Le'aupepe said.

"I never in my wildest imagined that in a competition like this, among so many actually talented writers, that I would manage to place. Thank you to those Judges who saw beauty and value in these songs of mine/ours, for it’s a reminder to me that they may not be completely garbage after all.

"Thank you to the scores of writers more deserving and gifted than me for shining as bright as you do.

"Lastly, thank you APRA AMCOS and Vanda & Young for contributing to such a worthwhile initiative in NRMTA. Their work is well and truly the most extraordinary part of this."

Queensland artist Mallrat was also awarded the first-ever award for Best 'Unpublished' Work with Better.

Honourable mentions have gone to acts such as Dean Lewis with Be AlrightAlex Lahey's Love You Like A BrotherAngie McMahon's Slow Mover and Ruel's Don't Tell Me.