Spaniard Marc Marquez, at 20 years of age, has become the youngest rider to ever win the MotoGP world championship as he finished third at the Valencia Grand Prix.
Two-time world champion Jorge Lorenzo claimed his eighth victory of the season, but it wasn't enough to overturn Marquez's 13-point lead, which he held heading into the race.
In the end there was just four points between them.
Marquez's Repsol Honda teammate Dani Pedrosa finished second.
"I cannot explain what I feel, (it is) a dream come true," Marquez said.
"Maybe I was clear too early (in the season) and then Jorge came charging at the end and I had to keep my nerve in the final race. I am overjoyed."
Needing just to finish in the top four to seal the title in his maiden year in MotoGP, Marquez started on pole but was immediately overtaken by Lorenzo heading into the first corner.
Pedrosa then also moved past Marquez and an incredible battle between Pedrosa and Lorenzo ensued as the latter tried to bunch the leading pack in an attempt to increase Marquez's chances of sliding down the field.
However, his plan backfired as both Lorenzo and Pedrosa ran wide and allowed Marquez to briefly move in front.
Lorenzo then retook the lead with unerring ease, but Marquez cruised round in second before allowing Pedrosa to pass with five laps remaining to ensure there was no late drama.
In the end, Lorenzo was happy just to seal his third consecutive win to end the season.
"It was a bit of a different race because I wasn't trying to escape early on," he said.
"I have to apologise to Dani because the two of us nearly crashed at one point and it was bit of a risky move on my part.
"I couldn't do any more. Once I saw that Dani and Marc had moved away from the rest, I just tried to win the race."
Earlier, Maverick Vinales became the Moto3 champion by winning the race, edging runner-up Alex Rins after fellow challenger Luis Salom crashed.
Only three points separated points leader Salom, Vinales and Rins entering the decisive event, but Salom's chances of winning the title evaporated when he fell in a curve with 10 laps to go while riding a close third behind Rins and Vinales.
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