ADELAIDE premiership hero Erin Phillips could win her third individual NAB AFL Women's award in four days on Tuesday night.

After winning the AFL Players Association most valuable player award, the Crows co-captain is the favourite for the League's best and fairest honour - the women's equivalent of the Brownlow.

The AFL awards for the inaugural women's season will be announced tonight at a black-tie function in Melbourne.

You can watch it LIVE on AFL.com.au and the AFL Official App from 6.30pm AEDT.

Phillips also was named best afield after Saturday's Grand Final win over Brisbane.

The Olympic basketballer convincingly won that award and the players association MVP.

She polled 204 votes for the MVP, with Melbourne onballer Karen Paxman next on 149 and Carlton forward Darcy Vescio third with 132.

Other awards to be announced on Tuesday will be the NAB AFL Women's Rising Star, AFL Women's leading goalkicker award, Woolworths Mark of the Year, and the Coates Hire Goal of the Year. The Virgin Australia AFL Women's All Australian Team will also be revealed.