The escape is his second close encounter with dangerous sharks — Mr Wilkinson competed in the heat before Mick Fanning was attacked by a large white shark in South Africa.
"I called my wife because I didn't want her to see the footage before I saw it. She doesn't want me surfing for a couple of days now."
The incredible footage was captured by an Unmanned Aerial Vehicle (UAV), operated by Surf Life Saving NSW on behalf of the NSW Department of Primary Industries (DPI).
Following the incident, Sharpes Beach was evacuated and has been closed until tomorrow.
"I've been surfing with sharks my whole life and I understand they're there and know enough about them to know they have not too much interest in humans. I'm just glad today the shark reconsidered at the last second," Wilkinson said.
Beau Monks, the drone operator, said he spotted the shark during his seventh flight of the day.
"It sort of came out of nowhere, then went right up to Matt," he said. "It moved pretty fast. I was tracking it and notified the lifeguards and used the speaker on the drone to get everyone out of the water.
"Within 10 seconds it was at the surfer and five seconds later it was gone."