Italy won 25-18, 25-10 and 25-17.
It was another dominant performance from the Azzurre, who dropped just one set throughout the campaign, led by longtime standout Paola Egonu, who top scored in the final with 22 points.
It is Italy’s 40th medal, the same tally as Tokyo 2020 three years ago where the gold tally was 10.
After the match Egonu said she was “super proud”.
Veneto born Italo-Nigerian Egonu, 25, played down media hype about her supposed rivalry with 21-year-old Iceland-born and Russian heritage Ekaterina Antropova.
Antropova also starred in the win after finally getting Italian citizenship a year ago.
“I can only say one thing; I am super proud. And happy for these women,” Egonu said.
“The final embrace with Antropova after so many words about our rivalry? We are a team, and with the gold we close a fantastic year.”
Meanwhile, social media erupted with the tag ‘multi-ethnic Italy wins’ going viral, a reference to right-wing League MEP General Roberto Vannacci.
Vannacci recently wrote in a controversial bestseller that Egonu’s “features do not represent Italian-ness”, a remark for which he has been cleared of defaming her.
The Italian sporting and political world joined in feting the long-awaited win by the multiple world and European champs.
Prime Minister Giorgia Meloni wrote on social media that “our Italian volleyball players, playing a flawless game, have made us dream again with a historic victory that gives Italy its twelfth gold”.
“Extraordinary! #italvolleyball.”
Her ally, Deputy Prime Minister and Foreign Minister Antonio Tajani was also jubilant.
“Gold makes history!!! The volleyball Azzurre on the highest Olympic podium place for the first time!!! Gold number 12 and Tokyo record of 40 medals equalled,” he wrote on X.
“Thanks to all our athletes, Forza Italy!!!,” said the centre right post Berlusconi Forza Italia party leader.
Italian Olympic Committee President Giovanni Malagò said Italy’s 12th gold “weighs an awful lot”.
“This one is heavy, I told the girls, we have won many individual ones, but this one is a team one,” Italian sports supremo told Rai Sport.
“We just have to thank the girls and how they played!”
Their Argentine-born coach Julio Velasco was hoisted aloft by the players after they won.
The 72-year-old fell short with the men’s ‘team of the century’ at Atlanta in 1996.
Fans joyously waved tricolour flags as the arena rocked to the Ricchi E Poveri hit Sarà Perché Ti Amo and its famous chorus of Vola Vola.
A village near Brescia, Roncadelle, now boasts three Paris Olympic gold medals after women’s volleyball captain Anna Danesi got hers after judoka Alice Bellandi and canoeist Giovanni De Gennaro won theirs.
“I was at a loss for words after the first two golds, let alone the third,” Roncadelle Mayor Roberto Groppelli told ANSA.
“We are proud of Anna, Giovanni and Alice. It is a dream come true and I think we can say that Roncadelle goes down in the history of these Olympics.
“We will certainly try to organise a nice party.”
The Lombardy village has a population of under 10,000.
ANSA