New Zealand edged out Australia 34-17 at Twickenham to become the first side ever to retain the Rugby World Cup title.
The All Blacks, who have now won their last 14 games in this showpiece competition, held a comfortable lead at the break thanks in large to Nehe Milner-Skudder's breakthrough try.
Ma'a Nonu added a second score of the evening soon after the restart, but a yellow card picked up by Ben Smith gave the Wallabies a glimmer of hope.
David Pocock and Tevita Kuridrani both crossed over during that 10-minute spell, but a Dan Carter drop goal and late Beauden Barrett try sealed things for the world's top-ranked side.
Relive Sports Mole's live text coverage below.
NEW ZEALAND XV: Ben Smith; Nehe Milner-Skudder, Conrad Smith, Ma'a Nonu, Julian Savea; Dan Carter, Aaron Smith; Joe Moody, Dane Coles, Owen Franks, Brodie Retallick, Sam Whitelock, Jerome Kaino, Richie McCaw, Kieran Read
AUSTRALIA XV: Israel Folau, Adam Ashley-Cooper, Tevita Kuridrani, Matt Giteau, Drew Mitchell, Bernard Foley, Will Genia; David Pocock, Michael Hooper, Scott Fardy, Rob Simmons, Kane Douglas, Sekope Kepu, Stephen Moore, Scott Sio
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NEW ZEALAND REPLACEMENTS: Tatafu Polota-Nau, James Slipper, Greg Holmes, Dean Mumm, Ben McCalman, Nick Phipps, Matt Toomua, Kurtley Beale
AUSTRALIA REPLACEMENTS: Keven Mealamu, Ben Franks, Charlie Faumuina, Victor Vito, Sam Cane, Tawera Kerr-Barlow, Beauden Barrett, Sonny Bill Williams
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"The sun is out at Twickenham and the weather is perfect for what promises to be a stellar occasion. It is the two best teams in the world going head to head for the biggest prize in rugby, and there are sub-plots galore along the way.
"One of these teams will be the first to win the World Cup three times, New Zealand are looking to become the first side to retain the trophy, while Drew Mitchell and Julian Savea are both chasing World Cup try records. It is arguably the biggest final in the competition's history, and let's hope the match itself is befitting of ending what has been the best World Cup ever."
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"New Zealand are unlikely to need any more motivation for this match, but if they did then it would surely come from wanting to give a fitting send-off to five players who will go down in All Blacks legend. Richie McCaw is surely the greatest of them all - arguably the best player the game has ever seen - while Dan Carter is not far behind in those stakes. Ma'a Nonu and Conrad Smith must go down as one of the best centre partnerships ever, while Kevin Mealamu has a whopping 131 caps to his name for the best team in the world.
"There seems to be a never-ending cycle of great New Zealand players, but this generation may well be the hardest yet to replace. Victory today would cement them as the best team of all time in the eyes of many and, whatever happens, it will be the end of an era for the All Blacks here. That simply makes this occasion all the more special."
"What an occasion and what a game we (hopefully) have in store here. This match could hinge on the battle at the breakdown, with Australia boasting the incredible Pocock and Hooper. However, New Zealand do have Richie McCaw, so that promises to be a brilliant battle. I'm going for a New Zealand win by three - 24-21!"
The first points of the final came via the boot of Dan Carter on his final All Blacks appearance. Australia fail to roll away which gifted the point-scoring machine a chance to slot one over from just outside the 22.
No mistake made by Foley from the resulting penalty, meaning that we are all square with 14 minutes on the clock at Twickenham.
"It really has been a high-quality start to this match, and that latest sequence of play is exactly what we were expecting between the Australian back-row and McCaw. Pocock and Hooper initially stole the ball, but McCaw got it straight back at the next ruck, only for play to be called back. It's been an absorbing opening 15 minutes."
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Carter inevitably finds the target from 30 metres out to open up that three-point lead once more. Giteau still off the field for a head injury assessment.
Genia strays offside to concede another penalty within kicking distance, and the rest was never in doubt. Australia simply not being given a chance to build up any sustained pressure so far.
We have an opening try in this cagey World Cup final, courtesy of Nehe Milner-Skudder. The ball is recycled well and Conrad Smith was able to pick out Ben Smith. Some superb handling then allowed McCaw to work it over to the far right for Milner-Skudder to give the Kiwis lift-off.
"That late try is a killer blow for Australia. New Zealand have dominated both possession and territory, with more than 70% in both categories, but the Wallabies were very much in it until Milner-Skudder's score. Now, it is very hard to see them getting back into the match the way that first half went."
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What a way to call time on your international career! Nonu's pace and determination leaves the Aussies' covering players for dead to touch down at the end of a superb individual try. There was plenty of space for him to run into, covering 55 metres after being picked out by Williams. Carter misses from the conversion, proving that he is only human.
Now then. A man to the good and just 11 points adrift now thanks to an opening score of the afternoon. From the driving maul New Zealand are simply unable to halt their opponents, with Pocock the man to cross over. Foley adds two more points to give the Aussies some renewed home.
"Game on? It has been a fantastic response from Australia to Nonu's early try and that try was sorely needed. How fitting that it comes from arguably the player of the tournament in David Pocock too. The 10 minutes in which Ben Smith are absolutely vital now. You feel that Australia need another try in that time."
8 - #AUS's @pocockdavid is the first number eight to score a try in a #RWC final. Lifeline.
— OptaJonny (@OptaJonny) October 31, 2015
We have a game on our hands now, folks! Tevita Kuridrani is the hero for Australia, crossing over to cut the Kiwis' lead to just four points. Beale chipped the ball into some space, which Mitchell gathered well on the far right despite the awkward bounce. The move looked to be fading, but all of a sudden Kuridrani was there in support to carry it the final 20 metres.
Dan Carter with a superb drop goal to make things slightly more comfortable for the All Blacks - what a loss he is going to be when bowing out. Just like last weekend, he finds the target from around 40 metres out to wrestle back some control.
Could that be the kick that seals this final? I think it might just be. The Wallabies' momentum has well and truly gone; New Zealand on their way to an unprecedented third World Cup triumph.
There is a reason why New Zealand are on the brink of history - they are simply the best on the planet when it comes to decision making. Smith took three players out of the game and kicked the ball into space for Beauden Barrett to race on to. It is all about the bounce, falling perfectly for a third score of the evening. That confirms it.
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"What a final that was. I must admit that I thought it was over when Nonu touched down, but Australia deserve so much credit for dragging themselves back into the game and making a fight of it. Ultimately, though, the class of New Zealand, and especially Dan Carter, shone through. He deserves this more than most having missed out in 2011, while it is also the perfect send-off for McCaw, Smith, Nonu and Mealamu. The greatest team of all time? It's hard to argue after tonight."