Second-seeded Chris Evert Lloyd upset top-seeded Martina Navratilova, 6-3, 2-6, 6-3, in three sets this morning to capture the Australian Open at Melbourne.

It was Evert's first title in the Australian Open, one of the four Grand Slam tournaments on the tennis tour. Earlier this year, Evert won the U.S. Open.

In advancing to the final, Evert yesterday beat Andrea Jaeger, 6-1, 6-0, and Navratilova defeated Pam Shriver, 6-3, 6-4.

Evert, playing in the only Grand Slam tournament she has never won, dispatched Jaeger in 42 minutes. Jaeger managed to win only 25 points in the match.

"The reason I came here to play was because I've never won the Australian Open," said Evert, who also was a finalist here in 1974. "I have maybe two or three more years playing and, before I retire, I'd like to win it." . . .

John McEnroe defeated Bjorn Borg, 2-6, 6-4, 6-3, to reach the final of the $700,000 European Champions tournament in Antwerp, Belgium. McEnroe will meet Ivan Lendl in the final today. Lendl easily beat Mats Wilander, 6-3, 6-3, in the other semifinal.

But McEnroe, who took the No. 1 world ranking from Borg last year, got a clear warning that Borg will be making a strong challenge to regain his status when he returns to the world circuit early next year.

"He beat the hell out of me in the first set and played very well," McEnroe said. "The problem is that he can't play like that for a whole match yet."