The $100,000 prize was decided by the judges unanimously, and announced Friday at the Art Gallery of NSW.
The winning portrait was selected from more than 1000 entries and 57 finalists.
"I was amazed by the humility of this great novelist, who has enchanted generations of Australian readers," said Jones, a four-time Archibald finalist
The 2024 crop of finalists includes some inventive and political fare, such as Shaun Gladwell's portrait of Wikileaks founder Julian Assange depicting his head as a hot air balloon, and Drew Bickford's painting of filmmakers Soda Jerk, designed to look like a cheap rental video.
Former graffiti artist Matt Adnate has already been recognised with the $3000 Packing Room Prize for his painting of Yolngu rapper Baker Boy.
Some of the more classical portraits to make the cut include an egg tempera portrait of New Zealand photographer Fiona Pardington by Simon Richardson, and from ten-time finalist Natasha Bieniek a tiny oil of the artist with her three-year-old daughter.
Also announced Friday, Naomi Kantjuriny has won the $40,000 Sulman Prize for her work Minyma mamu tjuta.
The finalists will be on show at the gallery from Saturday until September 8.
It will then tour regional NSW and the Northern Territory.
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