Ali Day has underlined his status as the Coolangatta Gold's greatest ever athlete by clinching a historic 10th victory in his last attempt at the multi-discipline surf event.

Day finished Sunday's 41.8km long course on the Gold Coast with a time of 3:59:31, roughly two and a half minutes quicker than second-placed Matt Bevilacqua (4:02:04).

Undefeated from 10 attempts at the race, the 33-year-old Day bowed to the crowd before breaking the tape and passing the baton to a new generation of ironmen.

"I'm relieved, to be honest. It's all over. I don't have to worry about it anymore," Day told AAP after the win.

"There's no way I'm coming back now. That sounds crazy I know, I could easily come back next year and do it, but I've had my time now. It's time for someone else to come through.

"I'd love to see someone go for 11."

Day blew the race wide open in the 3.5km swim, the third of five legs, then extended his lead on challengers Bevilacqua and Jackson Borg in the 6.1km board.

By the time Day began the 8.2km run to the finish line, Bevilacqua and Borg were more than four minutes behind.

Day was far enough ahead to stop and embrace loved ones on the home stretch, carrying his two children with him part of the way.

"I wish I could do that every day," he said.

"It's an incredible feeling and something I'll never forget. I'm extremely grateful."

Burly NSW athlete Borg (4:04:23) made the podium for the first time, finishing third after being overtaken by Bevilacqua on the final leg.

Jemma Smith returned from a five-year hiatus to win the women's long course with a time of 4:21:52, well ahead of second-placed Lucy Derbyshire (4:27:43).

Smith had focused solely on paddling during her time out as she unsuccessfully pushed for selection in the Australian Olympic team for the 2024 Paris Games.

Smith set herself up with a blistering start in the 23km ski leg before claiming the victory that narrowly eluded her last time she contested the event in 2019.

"It was my redemption race. I knew I had something special in me from the work I'd been putting in," Smith told AAP.

"It's the best feeling in the world."

The winner will have only one day off before returning to work as a PE and maths teacher in Sydney.

Smith's dominant win came after reigning ironwoman champion Lana Rogers withdrew only 40 minutes into the race after reporting circulation issues in her arms.

Rogers had been in fourth place in the opening ski leg when she pulled out off Palm Beach. She was later cleared by medics onsite.

"Obviously Lana is very disappointed, frustrated, but her body sort of shut down on her today," said coach Naomi Flood.

"She couldn't really feel her hand, the circulation wasn't really happening there. She wasn't cold or anything, just wasn't connecting."