Jack Miller pipped at final turn in Sepang

Jack Miller's hopes of winning the Moto3 world title are still alive after a thrilling finish to the season's penultimate race in Sepang.

Australia's Jack Miller has finished second in the Malaysian Moto3 Grand Prix. (AAP)

Australia's Jack Miller has finished second in the Malaysian Moto3 Grand Prix.

Miller was beaten to the finish line by Spanish Honda rider Efran Vazquez, who clinched his second title of the season by passing Miller at the final turn.

Vazquez, who also won in Indianapolis, finished the race in 40 minutes 41.002seconds.

Miller came second just 0.213 seconds behind.

Spanish Honda rider Alex Rins took the final podium spot, while Briton Danny Kent ended up fourth.

Championship leader Alex Marquez could only manage fifth place, ending up 0.831 seconds from Vazquez.

The result means the title is still up for grabs going into the final race in Valencia, with Miller 11 points behind Marquez and Rins in third.