Dom Sheed lead Eagles to five-point win over Magpies

Dom Sheed threaded an improbable goal in the dying minutes of a classic Grand Final to deliver the West Coast Eagles a thrilling five-point win over the Collingwood Magpies and their fourth Australian Football League title on Saturday.

In front of a baying Melbourne Cricket Ground crowd of 100,022, Sheed nervelessly slotted a 35-meter set shot from hard up against the boundary line to break the hearts of Collingwood and their army of black-and-white-clad fans.

"What an unbelievable game," a jubilant Sheed gushed after sealing the 11.13 (79) - 11.8 (74) win under a grey sky.

"You know we had some doubters through the year, we proved them all wrong."

Sheed's fairytale winner was a fitting climax to a classic Grand Final, destined to be remembered as one of the finest of the modern era.

Shell-shocked early after an unanswered five-goal blitz from Collingwood, the Eagles stormed back from 29 points adrift in the second quarter and were masterful in the nerve-jangling last to claim their first premiership cup since 2006.

The Perth-based side flew the breadth of the country to take on a red-hot Collingwood in the comfort of the Magpies' home ground and rewarded thousands of traveling fans with a display of brilliance and grit.

Hulking forward Josh Kennedy booted three goals while midfield dynamo Luke Shuey was awarded the Norm Smith Medal as best afield, having amassed a game-high 34 disposals and scored a clutch third quarter goal that nosed the Eagles ahead.

"To our fans who have come out today, you guys have traveled thousands and thousands of kilometers to be here and we love you," said Shuey. "This one's for you."

Inspired by three goals from forwarding Jordan De Goey, Collingwood pushed hard for a record-equalling 16th title and were gallant in defeat.

They will wonder how they let slip a five-goal lead, however, to be reeled in late in the third quarter.

They pushed ahead early in the last period with successive goals to Brody Mihocek and De Goey but could find no way to conjure a sealer in the face of a heroic Eagles defense.

The blue-and-gold tide of West Coast runners eventually overcame them.

"To the Eagles boys, you were too good in the end, well done, enjoy the victory," Magpies captain Scott Pendlebury said at the trophy ceremony.

West Coast's last trip to the showpiece of Australian Rules football ended in a 46-point humiliation by the Hawthorn Hawks in 2015, a stinging reverse that haunted them for much of the three years since.

The 12 players left from that side emphatically put those demons to bed, but not before a series of late wobbles.

Eagles forward Liam Ryan squandered a gilt-edged chance to take the lead, his set shot from directly in front hammering the post for a minor score.

Kennedy then fired short from well within his kicking range before Chris Masten also missed a regulation chance with eight minutes left.

It fell to Kalgoorlie-born Sheed to split the difference with the toughest shot of the day.

His gun-barrel straight kick sailed over the goal umpire's head, setting up wild celebrations from fans in the terraces and those over 3,000 kilometers away in Perth.