The Lambert–Pearce Medal is awarded to the best and fairest player in the VFL Women's (VFLW) during the home-and-away season, as determined by votes cast by the officiating field umpires after each game.

[1] The VFL Women's best and fairest award was named the Lambert–Pearce Medal in 2018 to honour Victorian Women's Football League (VWFL) founding committee member and former president Helen Lambert (the namesake of the Helen Lambert Medal, the VWFL best and fairest award) and Daisy Pearce, who won the inaugural VFL Women's best and fairest award in 2016 after having previously won six Helen Lambert Medals in the VWFL.

If two or more eligible players score the equal highest number of votes, each wins a trophy.

The fairest component of the trophy is achieved by making ineligible any player who is suspended by the VFL Tribunal during the home-and-away season.

An ineligible player cannot win the award, regardless of the number of votes she has received.