Comanche earlier said it planned to formally lodge a protest against Wild Oats, after a near-miss coming out of Sydney.
The boats came perilously close to colliding about 15 minutes into the race on Boxing Day, with the LDV Comanche crew raising a protest flag shortly afterwards.
The review could see a time penalty slapped of five minutes on Wild Oats XI - meaning Comanche could still be declared the winner.
They will have six hours after finishing to lodge paperwork with the international jury in Hobart.
Wild Oats XI's skipper unconcerned about Comanche protest
Mark Richards said he is not worried about a potential protest from Comanche.
"There was an incident there inside Sydney Harbour, which I think was totally innocent and we should be able to defend ourselves against that situation pretty clearly," he said.
"Outside of America's Cup, it is the Sydney to Hobart, the rules are quite different. We did exactly what we had to do in that situation, kept the boat safe in one piece, and that's what we did. So I am not concerned about it at all."
Black Jack was in third place, with InfoTrack -- the 2016 record setter when named Perpetual LOYAL -- fourth and narrowly ahead of Hong Kong entry Beau Geste.
Jazz Player, Wots Next and Rockall have been forced to retire, while Opt2go Scamp is repairing rotor damage at Eden and hopes to finish.
The Super Maxi crossed the finish line at 9.50pm on Wednesday, in a time of one day, eight hours, 48 minutes and 50 seconds.
The time slashes almost five hours off the time set by Perpetual LOYAL last year, who crossed the line at 2:31am.
The result is also about 16 minutes ahead of LDV Comanche.
In the tightest race in decades, Wild Oats XI overtook LDV Comanche on the River Derwent with about five nautical miles to go.
Fuelled by a strong north-easterly, WIld Oats XI chipped away at LDV Comanche's overnight 20 nautical mile advantage to be within a few hundred metres heading into the River Derwent.
There, it picked up a breeze to crawl into first place as her rival slowed to a near halt.
It's the first win for Wild Oats XI since the passing of former owner and businessman Bob Oatley last year.
Wild Oats XI retired from the past two Sydney to Hobart races due to mechanical issues but has now set the race record for the third time.
The crew celebrated, praising skipper Mark Richards.
- with AAP
