THE BEST player of this year's finals series will win the Gary Ayres Award after the AFL Coaches Association struck a new medal in the Hawthorn great's honour.

Ayres was the first player to win the Norm Smith Medal twice and played in five Hawthorn premierships in his 269-game career from 1978-1993 as a revered back pocket star.

Competing coaches will vote in the same 5-4-3-2-1 format as the home and away season to determine the winner, which will be announced on the Monday following the Grand Final.

Star Cat takes out AFLCA award

Ayres, who was humbled to be recognised for his big-game performances, said it would be an award all types of players could win – from star midfielders to key defenders.

"This is where you step up, where you try and inspire one another and we all know there's been plenty of roles applied on different days," Ayres told AFL.com.au.

"For everyone who represents their clubs, playing finals is what you want to achieve and it's why you sacrifice so much and do all the hard work.

"When you step onto that finals arena, it's about not losing sight of what's on offer.

"And if you're lucky enough to be successful it's just a wonderful achievement. It's why we ride the highs and lows."

Being a big game player – as illustrated by his 1986 and 1988 Norm Smith Medals – was the aspect of his career Ayres said he was most proud of.

His message to young players preparing to compete in their first finals series next week was not to take the opportunity for granted.

"I'd certainly be saying grab that chance, because you just don't know when you're going to get another one," he said.

"My advice would be along the lines of try to control what you can, remember this is the next step in the bigger picture, enjoy it, and remember to apply the things you've learned in your game."

AFLCA CEO Mark Brayshaw paid tribute to Ayres' decorated career, which included the 1986 best and fairest and selection in three All Australian teams (1983, 1986 and 1988).

"We’re pleased to initiate the Gary Ayres Award for the best finals player in the 2016 finals series, in recognition of a former AFL coach who was also one of the all-time great grand finalists," Brayshaw said.

"Gary coached 223 games at Geelong and Adelaide, including 12 finals and the 1995 Grand Final, but his playing record was also extraordinary.

"We believe the Gary Ayres Award will be an honour to win and will quickly become a well-regarded part of the finals series."

Ayres was inducted into the Australian Football Hall of Fame in 1999 and named in Hawthorn's Team of the Century in 2001 in a back pocket.