The trophy is awarded to the best-performed AFL/AFLW club across the home-and-away campaigns, with each win in the men's competition worth four points and each victory in the women's worth eight points.
Hawthorn trailed by three points when Richmond forward Emelia Yassir kicked a goal at the five-minute mark of the final term.
But the Hawks finished with a flurry, kicking the final four goals of the match to secure the 6.10 (46) to 3.5 (23) win.
Party time for the Hawks 🥳— AFL Women's (@aflwomens) #AFLWTigersHawks pic.twitter.com/9plZtXDdUaNovember 3, 2024
The result means second-placed Hawthorn (10-1) will host third-placed Brisbane (9-2) in a qualifying final at Ikon Park on Sunday.
The million-dollar prize purse will be distributed equally at Hawthorn, with $250,000 going to the AFLW players, $250,000 to the AFL players, $250,000 to the club football department staff and $250,000 to the club.
"It's crazy to think that we'd be in this position at the start of the year," Hawthorn's Greta Bodey told the Seven Network.
"The boys turned it around amazingly and we've done a pretty good job as well to bring it home.
"It was a big game coming into finals. We really wanted to get ourselves ready for next week, and Richmond were the perfect team to verse because they're such a good, quality opposition.
"Credit to them for bringing the fight. It took us the four quarters, and stoked to get the result."
Aine McDonagh's third term goal gave the Hawks a 10-point lead before Richmond fought back. (Rob Prezioso/AAP PHOTOS)
Richmond's fourth loss of the year meant they slipped to seventh spot, costing them hosting rights for an elimination final.
They will now face Port Adelaide at Alberton Oval on Sunday.
Neither Richmond or Hawthorn could score a goal in a hard-fought opening term, with the swirling breeze that favoured Richmond causing all sorts of problems close to goal.
Tempers threatened to boil over midway through the second term when Hawthorn's Jess Vukic pushed her elbow into the face of Richmond skipper Katie Brennan, with Tigers players quickly running in to remonstrate.
Hawthorn edged out to a 10-point lead in the third term when Aine McDonagh nailed her set shot.
Beth Lynch's booming goal in her 50th game closed the gap again, and Richmond hit the lead in the last term when Yassir converted her set shot.
But Hawthorn lifted when it mattered most, with Mikayla Williamson's goal sparking a run of four consecutive majors as the Hawks secured victory.
