The Cambridge team finished in a time of 18:34, to Oxford's 19:05, setting a new record for the Women's race, and beating the Cambridge men's 2015 time.
The Cambridge crew included four members of their 2016 complement, who lost to Oxford by 24 lengths after almost sinking to the bottom of the river. A shaky start of missed strokes forced Cambridge further away from the Surrey bend than they might have liked, and a superb Oxford boat put itself a quarter-length ahead before Cambridge had developed any rhythm.
Overall in the women's and the Men's race Cambridge university has been leading the scenarios in the women's section the Cambridge leading with 41 to 20 triumphs over Oxford and the in men's section the Cambridge leading with 82 wins to 79 over the Oxford University.
Coach Rob Baker said Cambridge had "done some unbelievable things in training and produced some phenomenal times, so I knew how fast the crew was". Drifting over towards the Oxford crew, there were hints of oars touching.
The live feed begins at 4.20pm and will be streamed live from the Championship Course, which stretches all the way from Putney in West London to Mortlake.
British police say the hotly contested annual Oxford-Cambridge boat race will proceed as planned after they removed an unexploded World War II-era bomb near the start of the race on the River Thames.
Cambridge club president Ashton Brown suffered pneumonia a year ago when the boat was swamped and she was overjoyed at the 2017 victory.
She said: "Last year we felt robbed because we didn't get to race and this year I've had an fantastic team with me and we did it right to the end. We were better on the day and we wanted it.In the autumn nothing was going our way and we have been building and it has culminated in this". "Past year we felt a bit robbed".
Oxford captain Harriet Austin refused to dwell on the early errors that cost her team the race, saying she was proud of the way they recovered.
Among other things, the race has a famous history for famous people.
Oxford has won the 163rd University boat race on Sunday, beating Cambridge by more than a length in one of the longest running competitions in world sport.
But Oxford were not allowed to move into the racing line as Cambridge stayed close enough that the Umpire, Matthew Pinsent, had to keep Oxford in check as Cambridge harassed Oxford into the final strokes.
There was nearly a clash of oars as the two boats fought for the more favourable water channels on the river, before Oxford surged ahead coming to the Hammersmith Bridge section.
Oxford's president Michael DiSanto rowed for Team USA at the Rio Olympics, but when asked how the Boat Race compared he said "there's nothing like it".
"Of my three Boat Race successes, this is my favourite". You're in a really hard position when you're winning - the pressure is more on you.
"It's extremely special, there's a special bond rowing with your brother", James Cook told the BBC.
He said: "We just did the job - we were clinical, but thanks so much to Cambridge".