The tournament sees the top 16 players in the world play in front of capacity crowds at London’s Alexandra Palace.
Last year's champion Neil Robertson left proceedings early, having been beaten in the first round by Shaun Murphy despite a spirited comeback which included a shot at a maximum 147 break.
And Ronnie O’Sullivan failed to make the semi-finals, after a final frame loss against Mark Williams – meaning he’ll have to wait to add a record 8th Masters and incredible 22nd Triple Crown trophy to his CV.
Here’s everything you need to know.
What is the prize money?
Along with the Paul Hunter Trophy, named in honour of the three-time champion who died in 2006 aged 27, the winner will also receive a cheque for £250,000
The runner-up wins £100,000, semifinalists £60,000, quarterfinalist £30,000, and even players who fail to win a game will get £15,000.
Who won the Masters Snooker 2023?
In an entertaining and close battle, Judd Trumpedged out Mark Williams by 10 frames to 8 to land his second Masters title – following his triumph in 2019.
A 126 break sealed the victory in the 18th frame and payed tribute to his 47-year-old Welsh opponent who was seeking to become the oldest ever Masters champ, telling BBC Sport: "It's incredible really, I got totally outplayed,"
He added: "At 8-7 down I was gone. I should have been out in the first round, out in the second round and I should have lost this one, I'm like a cat. I think with the way I played this week, this is my best ever performance to grind out to win this. I wasn't playing well. I missed balls over the pockets by a mile. Mark's long potting was unbelievable. He put me under so much pressure. I was never able to fall two behind and this is by far my best ever win."
How can I watch the Masters Snooker?
Full coverage of all the matches in the Masters Snooker can be watched live on the BBC – including on the BBC iPlayer and the Red Button.
What is the format of matches?
The first round, quarter-finals and semi-finals are the best of 11 frames (first to 6), while the final is the best of 19 frames (first to 10).