The best NRL grand final in years has seen the Penrith Panthers defeat the South Sydney Rabbitohs by just two points at Suncorp Stadium in Brisbane.

A fast and physical game from start to finish, it was a grand final worth of the name, and it was that fatigue which eventually led to the game-winning try.

The Panthers often felt like they had the better of the game, but it took a Cody Walker cut out ball which was picked off by Penrith winger Stephen Crichton to break the game open.

The talented Crichton ran straight through the line and away to the tryline which would seal the Panthers' first premiership since 2003.

The try put Penrith up by six points with 12 minutes to play, but it was hardly an easy win for the Panthers against a side who had beaten them in Week 1 of the finals.

They controlled possession however, allowing them to build fatigue in the Rabbitohs defence, although Wayne Bennett's side clung on bravely.

The Rabbitohs kept fighting through the final minutes, and a penalty 25 metres out in the 74th minute provided them the opportunity they were looking for.

They capitalised with a try out wide to Alex Johnston, however, Adam Reynolds couldn't slot the goal from the sideline.

The Rabbitohs would still have a handful of minutes to make something of it at the back end of the game, but on the attack, a Cody Walker pass ended up over the sideline as Nathan Cleary shut him down on a half break just metres from the tryline.

One final chance in the dying seconds for the Rabbitohs had it all including an attempted two-point field goal from Adam Reynolds, but it would bounce dead, ending their push to try and overthrow the Panthers.

A theme which followed the 80 minutes was the difference of the two kicking games, with Penrith well ahead of their opposition in that regard.

It was on show from the opening minutes as the Panthers built pressure from back-to-back repeat sets.

That kicking game had South Sydney's back three under pressure more times than you could count on two hands as the repeat sets racked up for the Panthers.

The trend which haunted them all finals series continued though as they struggled to complete plays and put points on the board.

Brian To'o almost had the first try of the game in the 13th minute, only to be stopped a metre out as Penrith dominated, before Matt Burton eventually went over for the try.

Against the run of play though, Viliame Kikau clipped Jai Arrow in a high tackle. From the ensuing penalty, Cody Walker managed to run straight through the line and tie the game up.

A penalty goal would be the only further scoring before the halftime break for the Panthers as the back-to-back grand finalists went into the sheds up by two points.

The second half started the same way the first half ended as the two teams ended in a back and forth battle. South Sydney had the better of the early going in the second half before a penalty goal of their own tied the game up.

Only desperation from Jaydn Su'A would stop Penrith from going to the lead earlier than the Crichton try, with Nathan Cleary throwing a forward pass to Viliame Kikau after he was dragged down in a tackle from behind.

Mistakes from both teams followed, but neither could capitalise up until the Crichton try.

In the end, Nathan Cleary's goal kicking proved the difference in a grand final for the ages.

Penrith Panthers 14
South Sydney Rabbitohs 12