Jorge Lorenzo won his second MotoGP title during Sunday's penultimate round of the 2012 World Championship at Phillip Island in Australia.

The Factory Yamaha star, previously champion in 2010, had to beat Dani Pedrosa to avoid a last-round showdown at Valencia.

25-year-old Lorenzo, who had qualified between Repsol Honda riders Casey Stoner and Pedrosa on the front of the grid, took the fight to the RCV riders by leading into turn one.

Pedrosa then dived under at the Honda Hairpin, with Stoner powering past Lorenzo at the end of the first lap.

But Pedrosa's title challenge came to an end when he slid off at the hairpin on lap two, having run deep on the brakes.

Lorenzo, who only needed three points more than Pedrosa, then held a safe second place behind Stoner to the end of the race.

The #99 celebrated with a big burn-out upon returning to the paddock and then dashed down from the podium to soak his team with champagne.

Lorenzo and Pedrosa came into the Australian round having both won six races this year and suffered one DNF caused by another rider.

While Lorenzo celebrates, Pedrosa is left to ponder his third runner-up finish in the premier-class, but can take consolation from having produced his best season to date.

A triple champion in the 125 and 250cc classes, Pedrosa had never previously won more than three races in a single MotoGP season.

Both Lorenzo and Pedrosa have signed to remain at their respective teams until at least 2014.