Canada prevailed 7-4 when the two met in the final round of Group Stage matches on New Year's Eve, and another high-scoring encounter looked on the cards when Arttu Valila equalised in the fourth minute for the Finns, after Sam O'Reilly had broken the deadlock after 70 seconds.
But the Canadians were back in front before the five-minute mark arrived, as Braeden Cootes got on the scoresheet, yet a holding call against Zayne Parekh in the 11th minute gave Finland their first powerplay chance, which they took, courtesy of Julius Miettinen.
Finland were unable to hold out in a thrilling first period which ended with Parekh making amends, his goal in minute 19 came on Canada's first powerplay, conceded by Lasse Boelius for cross-checking.
Finland needed overtime to beat the United States in the Quarter-finals, then were on the wrong end of mammoth penalty shootout against Sweden in the last four. Those extra miles in the skates may have been a factor from the start of the second period, in which Canada began to pull away.
The second also began with Canada scoring in under two minutes, through Porter Martone, then, a slashing call against Heikki Ruohonen allowed the North Americans to capitalise on another powerplay, as O'Reilly found the target for the second time.
In the final six minutes of the period, it was Ruohonen's turn to make up for his error, as he scored to make it a two-goal game again, but the Finns were not able to build on that in the third period, and Gavin McKenna's strike with under seven minutes to play sealed the bronze medals for Canada.
Those are the first Canadian medals at the World Juniors since their consecutive golds in 2022 and 2023. Finland, who last took the title at this level in 2019, have now finished fourth in two of the last three editions.
Later in the evening, the Final between Sweden and Czech Republic was played. Discover who won gold in Flashscore's match report.