The Stampede beat the three time defending champion Red Devils 4-3 in the third and decisive match of the finals series in Queenstown on Saturday.
It was the Queenstown based team's second win in as many nights against its arch rival, the team that broke the Stampede's hearts in the 2012 finals.
Captain Bert Haines, who was with the team when it won its other two titles in 2005 and 2006 but has also been on the receiving end of three finals series losses, was ecstatic after the match.
''It doesn't get any better than that,'' he said.
''It's such a great feeling, man. For me, that's the first time winning it as captain. Just to do it with a group of teammates that are incredible. It's such a good hockey moment.
''It couldn't be more well deserved to a group of guys that are just absolutely committed to doing what was out in front of us.''
Haines, who does not yet know if he will play another season in the NZIHL, also praised the team's management group and coaching staff.
Winning the Birgel Cup for a third time was the perfect way to send off forward Braden Lee, who has played more than 100 games for the team and announced last week he would retire at the end of the NZIHL.
After keeping its championship hopes alive with a 4-2 win in game two on Friday night, the Stampede wasted no time hitting the front in the decider.
Goal scoring machine Matthew Schneider, who scored 22 goals during the regular season, opened the scoring with less than two minutes on the clock.
No further goals were scored in the first period, but only thanks to Stampede goalie Aston Brookes, who made a couple of brilliant saves midway through the period.
Schneider doubled the lead 10 minutes into the second period, before Canadian import Jade Portwood made it 3-0 a minute later when he fired past Red Devils goalie Daniel Lee.
Canterbury's Igor Cvetek turned the game on its head a few minutes later, when he fired past Brookes twice in quick succession.
However, Stampede forward Michael McRae brought the crowd at the sold out Queenstown Ice Arena to its feet when he whistled the puck past Lee to make it 4-2 with a few minutes left in the second period.
Red Devils forward Chris Eaden clawed a goal back with 27sec left in the match to ensure an anxious finish, but the home side held on to deny Canterbury a fourth straight title.
There were emotional scenes when the final whistle went, as the entire Stampede squad threw their sticks and helmets to the ice to embrace one another.
The Stampede plays an exhibition match against the Ice Blacks in Queenstown on Friday night, while the annual Skate of Origin match, which pits the best of the south against the best of the north, will also be played in Queenstown the following night.
