The 23-year-old finished just four votes behind captain Dayne Zorko, who won his fifth Merrett-Murray Medal.

McCluggage won the Nigel Lappin Trophy for runner-up with 336 votes while Jarryd Lyons took home the Alastair Lynch trophy for third place with 332.

It's the third season in a row the South Warrnambool and Allansford export has finished top three in the club's best and fairest. He was third in 2019 and '20.

The classy wingman played every game, averaging 25 disposals. He also played his 100th match and scored his third All-Australian squad nomination.

In his acceptance speech, McCluggage thanked the club's coaching and support staff for helping the players out this season.

He also encouraged the playing group and fans to continue pushing in 2022 after the Lions bowed out of finals in straight sets for the second time in three seasons.

"We will stick at it. Obviously disappointing how we went out but there is a lot left to come," he said.

"As we saw we still have a very young list and a group of great blokes who can achieve a lot if we all stick together and work hard for it. Supporters stick with us, there is a lot to come."

McCluggage's father Sam said the family was proud of his efforts and for putting together another strong season.

"He had a consistent year so he has now had three solid years in a row now," Sam said.

"He came third in the past two seasons before this and then a second in a close count. We have been excited for him and he is delivering consistent footy.

"He has had a good run with injury which helps build resilience and confidence, which helps the form too."

Sam said the straight sets exit would create hunger and resilience for Hugh and his teammates.

"Every year getting the opportunity to play finals and each year you do that you get more experience and hopefully one day you get to the top of the tree," he said.