Power midfielder Adam Kingsley claimed the Michael Tuck medal for best on ground, but the award could have gone to most of the Port players who ran riot in the final three quarters of the match, after scores were level at the first break.
An eight goal second term set up the 17.9.111 to 3.8.26 victory, which will have many AFL experts rethinking their predictions for the Power.
The pre-season triumph was the South Australian club's first premiership since entering the competition in 1997.
With the contest in the balance in the early stages of the second term, Stuart Dew produced a devastating spell that left the Lions floundering.
Dew kicked three goals in two minutes, all with his booming left foot, and within another minute he'd hit the goal post with a snap around his body.
For good measure, he threaded another late major to finish the second stanza with 4.1.
His burst, which came after both sides registered 1.3 in the opening quarter, set the Port fans alight and effectively killed the game as a contest.
In fact, the last rites for Brisbane were delivered as early as the 16 minute mark of the second quarter when Fabian Francis rose from the semi-dead to follow Dew's brilliance with two goals himself, extending Port's lead to seven goals.
Francis had earlier been stretchered from the arena after being struck to the head in a crude collision instigated by Lions forward Jonathon Brown.
Francis was perched over a ball on the outer wing when Brown crashed through the Port favourite, television replays showing the Lion player's elbow raised at impact.
Brown's indiscretion seems certain to be further investigated by AFL hierarchy while veteran Brisbane utility Chris Scott was also placed on report on a bleak night for Brisbane, which also was seeking its first AFL crown tonight.
Scott was reported by field umpire Darren Goldspink after clashing with Power forward Chad Cornes in the final term.
Scott's act was all the more bewildering given the state of the match - Port had already taken an iron-clad grasp on the Ansett Cup, making amends for a defeat in the pre-season event's final at the hands of Hawthorn in 1999, the only other time the Power has contested an AFL grand final.
Dew's four goals were complemented by three majors to Cornes, whose agility at full-forward was a constant threat to the Lions.
Cornes' younger brother Kane also bagged two goals for Port.
Brisbane's only avenue to goal was through powerful forward Daniel Bradshaw, who kicked two of side's miserly three goal total.
The Lions relied heavily on the efforts of acting captain Darryl White but were outgunned by a Port side that reaped the rewards of a rampant midfield led by onballers Kingsley, Peter Burgoyne and Josh Francou.
Francou gathered 23 possessions, Kingsley 29 including 11 marks, and Burgoyne amassed 26 telling touches.
PORT ADELAIDE: 1.3, 9.5, 15.6, 17.9 (111)
BRISBANE: 1.3, 1.3, 3.6, 3.8 (26)
Goals: Port Adelaide: S Dew 4, C Cornes 3, K Cornes 2, F Francis 2, C Ackland, P Burgoyne, J Francou, B Guerra, B Montgomery, N Stevens. Brisbane: D Bradshaw 2, L Power.
Best: Port Adelaide: A Kingsley, S Dew, P Burgoyne, J Francou, N Stevens, M Primus. Brisbane: D Bradshaw, D White, M Pike.
Injuries: Port Adelaide: B French (leg).
Reports: C Scott (Brisbane) reported by field umpire D Goldspink for striking C Cornes (Port Adelaide) during the final quarter.
Umpires: D Goldspink, B Sheehan, G Dore.
Official crowd: 35,304 at Football Park.
Michael Tuck Medallist: A Kingsley (Port Adelaide)