After breaking the world record on Tuesday during the heats, the Italian team clocked a record 3:42.032 in the gold medal race.
The champion Italian team, comprising Simone Consonni, Filippo Ganna, Francesco Lamon and Jonathan Milan, saw off Denmark (silver) and Australia (bronze).
It was the first time in 61 years Italy has secured gold in the event.
The last time they were crowned Olympic champions was at Rome 1960 with their last time on the podium came at Mexico City 1968 (bronze).
The victory of the cyclists takes Italy’s Olympic medal count to 30: six golds, nine silvers and 15 bronzes.
This surpasses the 28 medals Italy won in the 2016 Rio Olympics and the 2012 London games.
