Ronnie O'Sullivan
Ronnie O'Sullivan will receive £200,000 in prize money. [Reuters]

Ronnie O'Sullivan has added a fifth Masters title to his name after beating 2013 champion Mark Selby 10-4 at Alexandra Palace.

World No. 2 Selby fought back from 7-1 down after the first session, winning three of the next four frames before O'Sullivan turned up the pressure to close down the match.

It seemed there was no stopping 38-year-old O'Sullivan who came out of retirement to compete again in February last year and won his fifth world title just two months later.

"I want to congratulate Mark on a brilliant tournament," said O'Sullivan.

"He is a very consistent player, so I'm pleased to have won.

"Playing Mark, you expect he will take you all the way and sometimes the worst thing you can do is build a lead because you never feel you are near the winning line."

It was the fifth time in seven years that Selby had reached the final but he looked nervous against O'Sullivan, who he met in Masters finals in 2009 and 2010, missing vital chances to gain the upper hand.

"Ronnie started great," said Selby. "I had a few shots but he is fantastic at taking his chances."

"I had a good chance in the fourth frame of the evening session but, when he is in front, he steamrollers you.

"The damage was done in the first session and you need to be on top."