Michael van Gerwen thrashed Phil Taylor to claim his second Premier League title with an 11-3 victory at the O2 Arena.
The world number one, who had previously claimed the trophy in 2013, picked up the £200,000 first prize in style as he firstly saw off Adrian Lewis 10-4 in the semi-finals before sweeping past Taylor in the decider.
Van Gerwen, who also pockets a £25,000 bonus for topping the league table during the 16-game regular season, was at his brilliant best in the final as he took five straight legs to move from 2-1 down to lead 6-2, before a showpiece 100 finish which featured two double tops stopped Taylor's fightback stone dead.
That checkout sparked another five-leg burst which saw the Dutchman take the title and reclaim one of the sport's most coveted trophies.
"It's been an amazing season for me and I'm so proud to win this title again," said van Gerwen. "Behind the World Championship, this is probably the biggest tournament and it was one of my goals this year to win this trophy.
"It's extra special for me after losing in the final for the last two years. I could have won those games but I let myself down and I can't ask for anything more than this because to beat Phil is a pleasure in itself as he's the greatest player who's ever lived.
"I was really solid tonight and I didn't make many mistakes. I did the right thing at the right moments and I'm really glad with this result.
"It's not all about tonight, but about the last 16 weeks. You put so much effort in and try to do well and it's paid out by winning this trophy."
Taylor had ended Gary Anderson's title defence with a 10-7 victory in their semi-final, with the Scot hitting back from 8-4 down at one stage to trail by just one leg before Taylor took out a key 79 before sealing victory.
However, the Stoke legend's bid to win a seventh Premier League title was ended as he lost out again to van Gerwen in the decider, as he had in 2013.
"I'm very proud to have got through to the final," said Taylor, whose last Premier League win came in 2012. "Michael beat me up, put me under pressure and made me miss doubles.
"He's doing phenomenal things and I did my best, but I just couldn't react against him. His scoring is good but his finishing is phenomenal and that's where he hurts you."
Lewis had landed a nine-dart finish during the league season in Belfast, but saw his bid to claim the Premier League title for a first time derailed by van Gerwen in the last four.
"It was one of those nights for me," said Lewis. "I felt like I threw good darts but they were landing just on the wrong sides of the wires, but Michael was the better man and deserved to win.
"I'm proud to have reached the play-offs in such a competitive field, but I know I've got more to give in the coming months and I'll get back on the practice board."
World champion Anderson was aiming to win his third Premier League title, and admitted: "It's really disappointing for me. I missed too many doubles and then when I got back at Phil I just couldn't get level, but I'll be back.
"After the start I had to the season I did well just to get to the Play-Offs, but when you're here you want to win it and I've not done that tonight."
Premier League Darts 2016 Results
Night One, Thursday February 4
First Direct Arena, Leeds
Peter Wright 7-2 Michael Smith
Michael van Gerwen 5-7 James Wade
Phil Taylor 2-7 Raymond van Barneveld
Robert Thornton 0-7 Dave Chisnall
Adrian Lewis 7-1 Michael Smith*
* Michael Smith played twice due to Gary Anderson pulling out of the opening night due to illness. Revised fixtures for week seven have now been made
Night Two, Thursday February 11
Metro Radio Arena, Newcastle
James Wade* 7-4 Michael Smith
Raymond van Barneveld 5-7 Peter Wright
Adrian Lewis 7-4 Dave Chisnall
Gary Anderson 3-7 Michael van Gerwen
James Wade 1-7 Phil Taylor
* James Wade played twice due to Robert Thornton pulling out due to illness. Revised fixtures for week eight have now been made
Night Three, Thursday February 18
Peter Wright 7-4 James Wade
Dave Chisnall 6-6 Michael Smith
Phil Taylor 7-4 Gary Anderson
Michael van Gerwen 7-4 Adrian Lewis
Robert Thornton 5-7 Raymond van Barneveld
Night Four, Thursday February 25
GE Oil & Gas Arena, Aberdeen
Adrian Lewis 7-5 James Wade
Gary Anderson 7-3 Raymond van Barneveld
Michael van Gerwen 7-1 Michael Smith
Phil Taylor 7-5 Dave Chisnall
Peter Wright 6-6 Robert Thornton
Night Five, Thursday March 3
Westpoint Arena, Exeter
Phil Taylor 7-1 Adrian Lewis
Dave Chisnall 4-7 James Wade
Robert Thornton 4-7 Gary Anderson
Peter Wright 2-7 Michael van Gerwen
Michael Smith 7-5 Raymond van Barneveld
Night Six, Thursday March 10
Capital FM Arena, Nottingham
Michael Smith 3-7 Gary Anderson
Peter Wright 3-7 Adrian Lewis
Raymond van Barneveld 5-7 James Wade
Robert Thornton 0-7 Phil Taylor
Dave Chisnall 2-7 Michael van Gerwen
Night Seven, Thursday March 17
The SSE Hydro, Glasgow
Gary Anderson 7-4 Adrian Lewis
James Wade 7-4 Robert Thornton
Michael van Gerwen 6-6 Phil Taylor
Raymond van Barneveld 7-4 Dave Chisnall
Gary Anderson* 7-5 Peter Wright
* Gary Anderson plays twice this week after being absent in week one due to illness. Michael Smith, who played twice on that night, now has a rest night
Night Eight, Thursday March 24
Echo Arena, Liverpool
Michael Smith 5-7 Robert Thornton
Gary Anderson 7-4 Dave Chisnall
Adrian Lewis 7-5 Raymond van Barneveld
Phil Taylor 6-6 Peter Wright
Michael van Gerwen 6-6 Robert Thornton*
* Robert Thornton plays twice this week after being absent in week two due to illness. James Wade, who played twice on that night, now has a rest night
Judgement Night, Thursday March 31
Motorpoint Arena, Cardiff
James Wade 6-6 Gary Anderson
Michael Smith 5-7 Phil Taylor
Dave Chisnall 5-7 Peter Wright
Robert Thornton 4-7 Adrian Lewis
Raymond van Barneveld 6-6 Michael van Gerwen
Night 10, Thursday April 7
James Wade 7-4 Raymond van Barneveld
Gary Anderson 3-7 Phil Taylor
Robert Thornton 5-7 Michael van Gerwen
Adrian Lewis 6-6 Peter Wright
Phil Taylor 7-4 James Wade
Night 11, Thursday April 14
The SSE Arena, Belfast
Robert Thornton 7-2 Peter Wright
Raymond van Barneveld 5-7 Phil Taylor
James Wade 5-7 Adrian Lewis (Lewis hits nine-dart finish)
Michael van Gerwen 6-6 Gary Anderson
Raymond van Barneveld 7-4 Robert Thornton
Night 12, Thursday April 21
Bournemouth International Centre
Michael van Gerwen 7-2 Peter Wright
Raymond van Barneveld 7-4 Adrian Lewis
Gary Anderson 6-6 James Wade
Phil Taylor 7-2 Robert Thornton
Adrian Lewis 5-7 Michael van Gerwen
Night 13, Thursday April 28
The Barclaycard Arena, Birmingham
Peter Wright 7-4 Phil Taylor
Raymond van Barneveld 5-7 Gary Anderson
Adrian Lewis 7-2 Robert Thornton
James Wade 1-7 Michael van Gerwen
Peter Wright 6-6 Gary Anderson
Night 14, Thursday May 5
James Wade 1-7 Peter Wright
Gary Anderson 7-1 Robert Thornton
Michael van Gerwen 7-2 Raymond van Barneveld
Adrian Lewis 2-7 Phil Taylor
Night 15, Thursday May 12
Ahoy Arena, Rotterdam
Robert Thornton 3-7 James Wade
Peter Wright 6-6 Raymond van Barneveld
Adrian Lewis 7-2 Gary Anderson
Phil Taylor 5-7 Michael van Gerwen
Finals Night, Thursday May 19
The O2, LondonSemi-finals
Michael van Gerwen 10-4 Adrian Lewis
Phil Taylor 10-7 Gary Anderson
Michael van Gerwen 11-3 Phil Taylor
Premier League Darts 2016 Table
Players in bold eliminated after Judgement Night
Michael van Gerwen P 16 W 11 D 4 L 1 LegDiff +42 Pts 26
Phil Taylor P 16 W 11 D 2 L 3 LegDiff +35 Pts 24
Gary Anderson P 16 W 8 D 4 L 4 LegDiff +11 Pts 20
Adrian Lewis P 16 W 9 D 1 L 6 LegDiff +10 Pts 19
Peter Wright P 16 W 6 D 5 L 5 LegDiff 0 Pts 17
James Wade P 16 W 7 D 2 L 7 LegDiff -7 Pts 16
Raymond van Barneveld P 16 W 5 D 2 L 9 LegDiff -8 Pts 12
Robert Thornton P 16 W 2 D 2 L 12 LegDiff -43 Pts 6
Dave Chisnall P 9 W 1 D 1 L 7 LegDiff -14 Pts 3
Michael Smith P 9 W 1 D 1 L 7 LegDiff -26 Pts 3