Australian surfer Mick Fanning has walked away from an attack by a Great White Shark in the final of the world surf league event in South Africa.

MORE: Shark attack - What really happened?

The 34 year old feels lucky to be alive with dramatic video footage showing just how close the incident could have been to a tragedy.

He escaped without a scratch after water patrols intervened and Fanning is relieved.

"Totally fine, I've got nothing wrong with me. Just like a small depressioning in my board and just my leg wrap got bitten - I'm totally tripping out."

The final of the J-Bay Open has been cancelled, and Fanning's in no mood to get back on his board.

"I'm happy to not even compete ever again, like seriously to walk away from that I'm just so stoked."

Fanning was knocked off his board during the attack before the intervention of water safety patrols chased the shark away.

He described his ordeal as feeling "like I was punched a couple of times. And then it was dragging me, I felt like it was dragging my underwater."

"Then my leg wrap broke and I just started swimming, swimming and screaming."