Penfolds Grange is most collectable wine

Penfolds Grange Shiraz from South Australia has been ranked as Australia's most collectible wine for the seventh consecutive time.

The Grange has now topped the Langton's Classification of Australian Wine in all seven editions. (AAP)

Celebrated South Australian red Penfolds Grange Shiraz has been named Australia's most collectable wine by leading wine authority Langton's.

The Grange has now topped the Langton's Classification of Australian Wine in all seven editions dating back to 1990.

Run every four years, the classification is an independent ranking of fine Australian wine that is compiled by analysing prices, levels of demand, and performance in the auction market over an extended period of time.

Langton's co-founder Andrew Caillard says the classification is an important guide for Australian wine drinkers that is based on consumer demand rather than a single opinion.

"It has followed the progress of the ultra-fine Australian wine scene since 1990 and provides collectors with a unique insight into the market," Mr Caillard said.

Over 450,000 bottles were analysed for this year's classification, with 136 wines making it onto the list, including 75 from South Australian vineyards in the Barossa Valley, the Clare Valley and around McLaren Vale.

Eight-five per cent of the wines selected were reds, with shiraz and cabernet sauvignon wines proving to be favourites in the market.