She is featuring on front and back pages of British newspapers on Wednesday morning with columns of coverage and pictures devoted to her success in winning the Women's Sprint.
She beat Anna Meares in the final yesterday (Tuesday) to take the gold medal.
Writing in the Daily Telegraph, Jim White said: "Tony Blair was standing to attention. So was Princess Anne... just to share in the British gold rush. The Laoshan Veldodrome was the place to be for that. And for Victoria Pendleton the moment - her moment - could not come soon enough.
"She took the Women's Sprint with a certainty that has come to define the British cycling team this week. In two race-offs, she was never in trouble. It was as if she was born to it: arise the new Queen Vic!"
Click here to view the Telegraph's interview with VictoriaThe Guardian's William Fotherington said: "There are hidden depths to Victoria Pendleton's bubbly girl-next-door persona.
"After crossing the line... she said something to herself while whizzing round the banking, before lifting her arms in triumph. She could not recall what those words were, 'and I don't think I could repeat them if I did remember'.
"The Queen of British track cycling might have said something not totally regal but that was understandable. Pendleton is an utterly driven athlete who had this one single chance to take a gold medal and she had to keep her patience until the final hour of the final day before her moment came."
Click here to read the full Guardian reportThe Sun concentrated on how Victoria battled with boredom and frustration in the Olympic Village
Steve Howard writes: "Victoria Pendleton revealed how she beat the frustration of life in the athletes village while waiting her turn for Olympic glory - she painted her nails!
"Pendleton said: 'Watching in the village was really emotional. I seemed to have been watching the guys for ever. So I took in a bit of TV, tried to read and attempted to force a bit of food down me. The only trouble was I didn't have much of an appetite.
"I seemed to spend most of my time painting my nails..."
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