The Herald Sun newspaper printed an edited portion of the cartoon - featuring 23-time Grand Slam victor Williams jumping on a broken racket during her dispute with a chair umpire in the U.S. Open final - among caricatures of other famous people Wednesday under the headline "Welcome to PC World".
Chair umpire Carlos Ramos issued a code violation to Williams during the march, saying she had received coaching during the match - a point Williams strongly denied.
The Herald Sun, owned by News Corp, first published the caricature of Williams with exaggerated lips and tongue and curly hair rising from the top of her head as she stomped on her tennis racket on Monday.
'I drew her as an African-American woman, she's powerfully built, she wears these outrageous costumes when she plays tennis - she's interesting to draw.
"These were the images used to justify African enslavement and racial segregation in the past; they are still used to control black lives in the present", she says.
Knight responded, "I'm upset that people are offended, but I'm not going to take the cartoon down", continuing, "I can't undraw the cartoon".
Tennis great John McEnroe, one of the game's most tempestuous characters in his playing days, said the sport must find a way to allow players to express feelings and inject their personality into the game while adhering to certain rules.
On the weekend where the National Football League opened its 2018 season, arguably the biggest story in sports happened in the US Open women's tennis final. The violations also include fines totaling $17,000.
The cover included caricatures of other Australian and foreign political leaders drawn by Knight.
Others would question why Knight gave Osaka a blonde ponytail.
Another Twitter user, Paul Pellen, added: "Outrage for the sake of outrage!"
However, he would go on to recant his observation.
"In her straight sets loss to Naomi Osaka, Williams was simply outplayed and lost her temper in a huge and ill-disciplined blow-up".
Karl continued, 'The moment we start trying to crack down on cartoonists is a slippery slope to a world that I just think is changed beyond recognition'.
Even former director of the United States Officer of Government Ethics got in on the act. It is not clear if Twitter has censored him or he deactivated account himself.
Knight told the Herald Sun: "The cartoon was just about Serena on the day having a tantrum".
"If the self-appointed censors of Mark Knight get their way on his Serena Williams cartoon, our new politically correct life will be very tiresome indeed", the tagline adds.
"However, it was a reminder that when a black woman, especially a dark-skinned black woman, shows emotions - she is quickly reduced to stereotypes such as the "angry black woman" or likened to animalistic imager, y to say that we aren't seen or allowed to be seen as full human beings, who can show a range of emotions".