Bronze medal winning Olympian Chris Burton has become the first Australian in ten years to win the Burghley Horse Trials.

Burton held a commanding lead with Nobilis 18 following Saturday’s cross–country phase at the event in Lincolnshire.

But the world number two just about faltered in a dramatic final day.

By the time he entered the arena as last to go in the showjumping finale, he could afford to have four fences down and still win the STG63,000 ($A110,000) top prize.

That proved just as well for Burton, as he collected 16 faults to finish on a score of 49.4 penalties and become Australia’s first Burghley champion since Lucinda Fredericks 10 years ago.

Burton told Horse and Country TV the win was “unbelievable” after the error-ridden finale, and something he never thought would happen.

The 34-year-old joked: “I thought I’d keep it interesting for everyone by making it as close as possible.

“He’s basically a careful showjumper and he warmed up well, but in the end he got a bit tired and had a few down.”

Huge congratulations to Christopher Burton of Australia who wins the Land Rover Burghley Horse Trials 2016. #LRBHT pic.twitter.com/qsNxGASQlJ

— Defender Burghley Horse Trials (@Burghley_HT) September 4, 2016

Wiltshire-based New Zealander Andrew Nicholson guided Nereo to a third runners-up finish at Burghley, ending on 53.2. Nicholson, one of the most successful riders in the world, was not selected for Rio through a combination of bad blood with New Zealand officials, and a nasty fall last year that resulted in serious spine injuries.

Two more New Zealanders – Olympians Jonelle Price and her husband Tim – were third and fourth, respectively.

Yorkshireman Oliver Townend, who won Burghley in 2009, was the highest-placed British finisher in seventh on Samuel Thomas II, and Tina Cook – travelling reserve for the British team in Rio – was 10th aboard Star Witness.