With 4:06 left in the game, Winfield received a flag for taunting - that set the team back 15 yards - after disrupting a pass intended for Hill.
The NFL has now fined Winfield unsportsmanlike conduct with $7,815.
Winfield's taunting first came off as disrespectful primarily because the Buccaneers were significantly up in the fourth quarter.
The cornerback was swift to point out that the teasing was incited as a need for revenge. Hill flashed Winfield down the sideline during the regular season in Week 12 and gave him the peace sign before backflipping into the end zone for a 27-24 victory.
It has been Hill's signature move to put up a peace sign to opposing defenders every time he divulges a big play for a touchdown.
The wide receiver has been fined multiple times in the past for his signature peace sign taunt.
Hill had 269 yards and three touchdowns against the Buccaneers; during one of his touchdowns in the first quarter, Hill backflipped into the end zone, giving the peace sign to Winfield as he ran past him.
The Buccaneers got retribution with a 31-9 blowout triumph over the Chiefs during the most crucial game in the league. Tampa Bay won their second Super Bowl in franchise history.
Winefield expressed no regrets for teasing Hill, saying:
"It was just something I had to do...When we played them earlier, Hill went off on us. He backflipped in front of my face and gave me the peace sign, so it was only right that I gave him the peace sign back to him at this moment. It felt amazing to be able to do that."
Winfield's taunting of Hill was the most memorable incident, but the rookie also came up with an interception in the second half of Super Bowl LV. With the Buccaneers ahead 28-9, Winfield took down Mahomes' third-down pass that Tampa Bay safety Mike Edwards initially diverted.
The interception was Winfield's first career postseason interception before he set up a 52-yard field goal that tallied up the Buccaneers' 31-9 triumph.
Winfield was tied for second on the Buccaneers with six tackles in Super Bowl LV. He also played a pivotal role in the Buccaneers becoming the sixth team in Super Bowl history not to allow an offensive touchdown.