West Coast Eagles have won their fourth AFL premiership, beating Collingwood at the MCG to take the flag west for the first time since 2006.

Adam Simpson's men were jumped by Collingwood early, trailing by as much as 29 points in the first quarter.

But the Eagles slowly gained a foothold in the game, and trailed by only two goals at half-time before getting on top in the final quarter and sealing victory with a Dom Sheed goal to win 11.13 (79) to 11.8 (74).

Sorry, this video has expired West Coast Eagles win the 2018 AFL grand final

The Magpies — who were attempting to match Richmond's achievement in going from 13th on the ladder to premiers — looked like winners for most of the day, but they couldn't take enough of their chances, and ran out of run at the wrong time.

This was the seventh consecutive grand final between a team from Victoria and an interstate side.

Victorian sides had won the previous five editions. West Coast was appearing in the grand final for the seventh time in the AFL era (since 1991), the joint-most along with Geelong.

Vics v the Rest in Grand Finals 2012: Sydney beat Hawthorn by 10 pts

2012: Sydney beat Hawthorn by 10 pts 2013: Hawthorn beat Fremantle by 15 pts

2013: Hawthorn beat Fremantle by 15 pts 2014: Hawthorn beat Sydney by 63 pts

2014: Hawthorn beat Sydney by 63 pts 2015: Hawthorn beat West Coast by 46 pts

2015: Hawthorn beat West Coast by 46 pts 2016: Western Bulldogs beat Sydney by 22 pts

2016: Western Bulldogs beat Sydney by 22 pts 2017: Richmond beat Adelaide by 48 pts

2017: Richmond beat Adelaide by 48 pts 2018: West Coast beat Collingwood by 5 pts

It was a sixth time in the decider in the AFL era for the Magpies.

Twelve of the Eagles' side had played in the 2015 grand final when Hawthorn thumped West Coast by 46 points.

The big query going into the day was the fitness of West Coast key defender Jeremy McGovern, who had been slowly recovering from a bump to the hip from Melbourne's Christian Petracca in last week's preliminary final.

Coach Adam Simpson had declared himself "extremely hopeful" that McGovern would play — the Eagles' swingman took his place at the captain's run on Friday afternoon, but the acid test came on the MCG a day later, and he passed.

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Josh Kennedy had the first chance 90 seconds in after a solid move, but he missed a set shot from 25m out.

At the other end, the first storyline of the day came when Travis Varcoe — whose sister died after a head injury in a local football game in Adelaide late last month — ran inside 50 and slotted the opening goal for Collingwood five minutes in.

The Eagles were under the pump, and Collingwood made a break around the 10-minute mark when Rising Star Jaidyn Stephenson kicked a couple in quick succession — first a snap from the right forward pocket, and then a dribble kick as the Pies fans roared in the stands.

The Magpies were forcing West Coast out of their usual game — and when Jordan De Goey spun out of two tackles and snapped another from the left forward pocket Collingwood led by 23 points at the mid-point of the quarter.

West Coast was looking desperate on the MCG, and Will Hoskin-Elliott added to the Eagles' problems when he drilled a set shot to make it 5.0 - 0.2.

Things were looking reminiscent of the Magpies' first-half demolition of Richmond last week, but deep into time on West Coast finally managed to get on the board with an unlikely effort, as the ball bobbled in the goal square, and Willie Rioli managed to get the back of his shin to it before it crossed the line.

Then with a minute to go, Luke Shuey found Kennedy for a mark close to goal and he converted, to leave the Magpies' lead at 17 points at quarter-time.

Scoring dries up as the pressure goes on

The second quarter started as an arm-wrestle, with neither side capable of putting goals on the board.

There were no easy possessions in the second term at the MCG as the Magpies and Eagles battled for ascendancy. ( AAP: Julian Smith )

The Magpies had chosen Levi Greenwood to tag the dangerous Elliott Yeo, and Yeo was still on less than a handful of disposals midway through the second term, looking very frustrated.

Jack Darling and Kennedy were struggling to get hold of the ball up forward for the Eagles, while down back it was the intercept marking of McGovern, Tom Barrass and Tom Cole that was keeping West Coast in it.

Collingwood's Brayden Maynard came off with an apparent shoulder injury after he tried to contest a ball inside defensive 50 just before time on. But he did return to the game.

Top goalscorers Josh Kennedy (WC) - 3

Josh Kennedy (WC) - 3 Jordan de Goey (Coll) - 3

Jordan de Goey (Coll) - 3 Mason Cox (Coll) - 2

Mason Cox (Coll) - 2 Jaidyn Stephenson (Coll) - 2

The game then burst open in a space of two minutes. First the Pies burst down the right wing, and Will Hoskin-Elliott dove full-length to take a mark 60m out — he passed to De Goey who brought the crowd to their feet with a perfect shot from outside 50.

But then the Eagles finally broke open the Magpies defence and were able to raffle it — the ball was marked inside 50 and handballed over the top to Mark Hutchings who ran in and goaled.

At the break, the Magpies led by just two straight goals but had laid an incredible 58 tackles to the Eagles' 34.

With Yeo being tagged, Luke Shuey stepped up with 18 disposals, and fellow midfielder Sheed had 20 touches.

Top possession getters Luke Shuey (WC) - 34

Luke Shuey (WC) - 34 Dom Sheed (WC) - 32

Dom Sheed (WC) - 32 Taylor Adams (Coll) - 31

Taylor Adams (Coll) - 31 Adam Treloar (Coll) - 26

Adam Treloar (Coll) - 26 Jack Crisp (Coll) - 25

Jack Crisp (Coll) - 25 Tom Langdon (Coll) - 23

On the Collingwood side, Mason Cox was not the same factor he had been in the prelim, whole Brodie Grundy was not dominating in the ruck.

The Eagles then made the perfect start to the third term, with Kennedy marking and then slotting the set shot from 45m out in the first 45 seconds to bring the margin back to just six points.

Collingwood had responded by switching Greenwood to Shuey from Yeo.

West Coast was on the march, but Willie Rioli was run down by Travis Varcoe in the centre square and the Magpies made them pay, attacking down the right and finding Mason Cox for his first big mark of the day and a great finish.

The teams were going goal for goal, as Jamie Cripps produced a great snap for the Eagles, only for Taylor Adams to answer at the other end.

The Eagles were lifting, and Lycett found Darling near the goalsquare for a fiercely contested mark. He kicked West Coast's third of the quarter.

Then near the 20-minute mark, with Collingwood feeling the pressure, Yeo intercepted a kick out of defensive 50 and slotted the set shot to give the Eagles the lead.

An exchange of behinds left the scores level at three quarter-time for the first time in a VFL/AFL grand final since 1937.

Heart-stopping finale as Sheed gets it done

Collingwood then burst out of the blocks in the final term, kicking two goals in 90 seconds to start the quarter.

Jordan de Goey's (L) accurate long kicking for goal was crucial as Collingwood led for most of the day. ( AAP: Julian Smith )

Brody Mihocek crumbed the ball and goaled from 20 out, and then De Goey booted another from outside 50. But Nathan Vardy marked and goaled, and then Cripps missed a chance from 50 to leave the gap at five points.

Cox took a huge mark for the Magpies and kicked a wobbly low shot that just made it home, but a minute later the Eagles were free and Kennedy marked in the left forward pocket before kicking his third.

As the tension mounted, Liam Ryan hit the post to make it four points the margin.

Minutes later he hit the post again with a set shot, and a rushed behind made it two points. The Eagles were on the charge, and Collingwood was struggling to get the ball inside 50.

A miss to Chris Masten near time-on made it just one point between the sides, then Hoskin-Elliott missed for Collingwood.

There were minutes of stalemate as time ticked down, and it looked like the Magpies were headed for a record-equalling 16th VFL/AFL premiership.

But the Eagles had one shot left in the locker. McGovern took a great mark, then the ball went downfield and Ryan added his own big grab 65 metres out.

He kicked long to the right forward pocket, and Sheed was there to take the mark.

The midfielder had kicked just six goals for the season, but he never looked like missing with a brilliant kick from a difficult angle as the 20,000 or so Eagles fans in the stadium erupted.

Another rushed behind for West Coast ended the scoring, as the Magpies tried unsuccessfully to find a way to goal before the siren went to confirm their heartbreak.

The devastation set in for a Collingwood side pondering what might have been.

Shuey, who ended up with 34 disposals [including 19 contested possessions], eight tackles, nine clearances, eight inside 50s and a goal, was the winner of the Norm Smith Medal for best-on-ground.

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Collingwood had overcome a huge injury list to make it to grand final, but the Eagles' key outs were substantial as well.

Star ruckman Nic Naitanui's knee injury had ended his season 10 weeks early, while Andrew Gaff's punch which broke the jaw of Fremantle's Andrew Brayshaw in the second Western Derby left West Coast without its star midfielder for the entire finals series.

"It's all been a united group in year. It has been a fantastic ride. We have faced a lot of adversity," coach Adam Simpson said after the game.

"My heart goes outline to Eric McKenzie and Brad Sheppard and Nic Naitanui and Andrew Gaff. You are part of this group."

Simpson paid tribute to outgoing chief executive Trevor Nisbett.

"Just on behalf of the whole club, we can't wait to bring that Cup home, so thank you so much."

In the aftermath of the win, an emotional Gaff was consoled by teammates.

But for the rest of his team it was celebration time.