The Netherlands have confirmed their status as the world's best women's hockey nation with gold in Paris, beating the Australian-coached China.

Alyson Annan and Ric Charlesworth led China to the gold medal match, which they led courtesy of Chen Yi's sixth-minute opener.

Buoyed by huge Oranje support in the stands - who also turned out on Thursday night when the Dutch men won gold - Yibbi Jansen equalised with nine minutes left, sending the outcome to a penalty shootout.

In the dreaded decider, Anne Veenendaal denied three Chinese efforts, while Pien Sanders, Maria Verschoor and Marijn Veen all netted for a 1-1 (3-1) win.

"Almost, huh? We were really close," Annan said.

"We fought hard. Getting to a shootout is pretty good. They were better in the shootout today."

The result - the same scoreline as the men's gold medal match triumph over Germany - means the Netherlands are the first country to sweep both men's and women's gold at the same Olympics.

It is also the Netherlands' fourth women's gold from the last five Olympics.

Annan, a two-time gold medallist with the Hockeyroos and Sport Australia Hall of Fame member, was responsible for their last triumph, coaching the Netherlands to gold in Tokyo.

However, she left in 2022 after a scathing review into the team's culture, and was picked up by China later that year.

Annan comforted disconsolate Chinese players after the final whistle, who hung their medals over the coach for a team photo after their presentation.

"Six months ago, a year ago, two years ago, we wouldn't have thought we'd be here. This is just amazing," Annan said.

It is China's equal-best Olympic result, following silver in Beijing, with Argentina claiming bronze after a 2-2 (3-1) penalty shootout defeat of Belgium in the bronze medal match.