Aiming to become the first woman this century to win a hat-trick of titles at Melbourne Park, the Belarusian powerhouse lost a thrilling decider to Madison Keys on Saturday night.
Keys prevailed 6-3 2-6 7-5, the 29-year-old American stamping herself as the oldest first-time major winner in a decade.
The result meant Sabalenka became only the third world No.1 in the open era to lose a grand slam final to an opponent ranked outside the top 10.
Sabalenka shook hands with Keys and the chair umpire before taking out her frustration on her racquet, and quickly headed down the tunnel.
Aryna Sabalenka was devastated after missing out on an Australian Open hat-trick. (Joel Carrett/AAP PHOTOS)
The three-time grand slam champion soon returned for the presentation of the Daphne Akhurst Memorial Cup to Keys.
She congratulated her opponent for her fighting spirit and vowed to have another crack at the title in 2026.
"I really feel like home every time I'm here," Sabalenka said.
"Even though I didn't get it this year, I'll come back stronger and I'll do my best next year."
Sabalenka, who had lost just one set en route to Saturday night's final, was immediately on the back foot when her serve was broken by Keys in the opening game.
The 26-year-old stormed back with a dominant second set, but was unable to go on with the job.
It was Sabalenka's second loss to world No.14 Keys in six career meetings - and first since 2018.
Despite her loss, Sabalenka has reached four of the past five grand slam finals and appears well placed to contend for some time to come.
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