Jessica Wilson, 37, faced a Warrnambool Supreme Court trial over the fatal stabbing of Marcus Adams, 35, at Port Fairy's Catalina Caravan Park in September 2019.

Jurors reached a not guilty verdict for the charges of murder and the alternate charge of manslaughter on Friday morning, after about four days of deliberations.

Justice Lesley Taylor thanked the jury for their service.

"Thank you for your efforts in this trial, you were part of a particularly attentive and hardworking jury," Justice Taylor said.

It brings to close a 10-day trial which started on November 25 and heard from multiple witnesses including residents who lived at the caravan park on the night of the fatal stabbing in the early hours of September 20, 2019, as well as forensic investigators and medical experts.

Lawyers for Wilson claimed she acted in self-defence but the prosecution said she either intended to seriously injure or kill, or "unnecessarily" defended herself.

Andrew Waters, representing Ms Wilson said his client felt the right result had been reached.

"What happened was a tragedy and Jessica obviously is pleased with the outcome and will now move forward with her life," he said.

"It's not the sort of matter where there's winners, but we feel the right result has been reached."

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