Achieving overall victory or winning the championship in a competition; can refer to the winner (team or person).
うちのチームは地区大会で優勝した。
Our team won the regional tournament.
彼女は今年の大会で優勝を目指して練習している。
She is practicing aiming to win this year's competition.
優勝杯はチーム全員で喜びを分かち合った。
The whole team shared the joy of the championship cup.
Colloquially used to express great satisfaction or that something is 'the best' (slang/informal usage).
今日のランチ、あの店のカレーが優勝だった。
Today's lunch — that restaurant's curry was the best.
この新商品の使い心地、マジで優勝！
The feel of this new product is seriously the best!