Graeme shot a 71 and was presented with the Galway Crystal trophy by Minister for Education Noel Dempsey. Graeme has previously finished fourth and second.
All the winners will share in the prize fund of 2,000 worth of Arnotts vouchers.
Girls winner, Dubliner Dawn-Marie Conaty, from Ashbourne Co. Meath, shot an amazing 72, equalling the ladies course record for Luttrellstown.
This year's winners in the various categories include:
1. Grame Dunlea Killorglin, Co. Kerry (71), 2 Steven Hackett, Little Island, Co. Cork (73), Ciaran Ryan, Old Conna, Co. Wicklow (75).
Girls Winner: 1 Dawn-Marie Conaty, Ashbourne, Co. Meath (72), 2 Jena Kinnear, Belvoir Park, Co. Antrim (76), 3 Rachel Cassidy, The Island, Donabate, (80).
Under 17: 1 Martin Maher, Beech Park, Rathcoole, Co. Dublin (75), 2 David Errity, Hermitage, Lucan, Co. Dublin (76), 3 Robert Smith, Ashbourne, Co. Meath (76),
Under 16: 1 Ross Dunne, Charlesland, Greystones, (77), 2 Anthony Slaughter, Castle, Rathfarnham (78), 3 Gareth Leahy, Blackbush, Dunshaughlin, Co. Meath (80)
Best back 9: Darragh Flynn Charlesland, Greystones, Co. Wicklow (36)
In celebration of the fifth anniversary of the event, the competition featured a Young Irish Masters Challenge in which previous winners were invited back to participate. Yesterday's winner was Eoin Arthurs, a sports management student at UCD.
Young Irish Masters Challenge: (Boys) 1 Eoin Arthurs, Forrest Little, Swords (74); 2 Killian Duffy, The Grange, Rathfarnham (76); 3 Cian Curley, Newlands, (84)
Girls: 1 Annemarie Dalton, Coolattin, Wicklow (80); 2 Sarah Gallagher, Claremorris (81), 3 Lynsey Humphries, Armagh (86).