NEW YORK (Ticker) -- In a fitting finale for women's tennis at Madison Square Garden, world No. 1 Martina Hingis edged former champion Monica Seles in three thrilling sets this afternoon, capturing her second Chase Championships crown.

Hingis needed over two hours to post a 6-7 (5-7), 6-4, 6-4 triumph over the third-seeded Seles, who possibly was making her last appearence in the $2 million season-ending event.

For the next three years, the WTA Tour has decided to move the tournament to Munich, Germany, the country where Seles was stabbed during a match in 1993. She vowed never to return after a German judge allowed her attacker to go free.

But that dark incident was far from the minds of the players and vociferous but less-than-capacity crowd, which was treated to outstanding tennis.

Hingis improved to 12-2 lifetime against Seles and raised her tour-leading tournament victories this season to nine. The 20-year-old from Switzerland earned $500,000, two trophies and her 35th career title.

In a match decided by just seven points, Seles won her first set vs. Hingis since 1998. The two traded breaks and Hingis held for a 6-5 lead before they waged a lengthy battle in the 12th game, which went to nine deuces.

Seles saved three set points before converting on her seventh ad, hitting a forehand stab volley down the line to force a tiebreaker. She hit a forehand wide on her second set point but forced an error from Hingis to seal the set in 56 minutes.

In the second set, Hingis erased deficits of 0-2 and 2-4 as she ran Seles from side to side, forcing the two-handed player to make one-handed saves. At the changeover, she took a bathroom break while Seles had her left upper thigh rubbed by the trainer.

They exchanged breaks at the start of the deciding set before Hingis held for a 3-1 lead. Seles finally had an easy service game, hitting four straight winners, and rode the crowd support to level the set at 3-3.

Hingis went ahead in the seventh game but double-faulted on break point on her own service game. The string of breaks continued as Seles put a backhand into the net for break point and Hingis nailed a cross-court backhand winner.

After Hingis double-faulted on her first match point, she hit a 92-mph ace -- her fifth of the match against nine double faults -- and Seles smacked a second-serve forehand return into the net to end the match.

Hingis shook hands cordially with Seles before meeting her mother and coach, Melanie Molitor, at the side of the court, where she broke into tears.

Going without a Grand Slam title for the first time since 1996, Hingis often appeared pushed around by more powerful players this year.

She lost to Lindsay Davenport in the final of the Australian Open and to Venus Williams in the quarterfinals of Wimbledon and the semifinals at the U.S. Open. However, she compiled a 77-10 record and finished the year at No. 1 for the third time in her career.

A winner of three titles this year, Seles also captured the bronze medal at the Sydney Olympics. The former world No. 1 became the youngest player to win the season-ending championship in 1990, when she took the title at 16 years, 11 months. She successfully defended her title the next two years and owns 47 career singles crowns.