Douglas, who failed to do the same in the 2001 final by a point, got off to the perfect start and led 1-2 to 0-1 following a great goal by Michael Carroll.
St Anthony's came storming back from the early Douglas onslaught and, with Shane Keane in outstanding form, they were level after 15 minutes before an Andy O'Connell goal just on the stroke of half time helped them to a 1-5 to 1-4 lead at the break.
There was no let up in the intensity of the exchanges on the changeover and it took some great defending by Douglas, and in particular their goalkeeper Denis Dowling, to prevent the Saints from going further ahead.
The excellence of Enna Mulrooney and Ronan Kelly at midfield helped Douglas hit the front 10 minutes into the second half when Kelly fisted home Mulrooney's well taken 45.
Again, St. Anthony refused to give up the chase and only a truly magnificent double save by Douglas 'keeper Dowling denied Shane Keane a goal.
From that let-off Douglas broke upfield and, after Michael Carroll's shot was blocked by Eoin O'Shaughnessy, Robert Fitzpatrick following up, knocked the rebound to the net to finally break the Ballinlough challenge.
While it was essentially a team effort which won Douglas an historic victory in centenary year, the brilliance of Caolan Mulrooney, Stephen Moore, Alan Walsh, Stephen Collins, Peter Carroll and Michael Carroll deserves special mention.
For St Anthony's it was no fault of Eoin O'Shaughnessy, Andrew Neville, David O'Donovan, Paul Bennett and Alan Cadogan, that they failed to retain their title.
Scorers for Douglas: M. Carroll 1-2; R. Fitzpatrick 1-1; R. Kelly 1-0; E. Mulrooney 0-2; P. Carroll 0-1. St Anthony's: S. Keane 0-4 (0-2 frees); A. O'Connell 1-1; E. Farrell, P. Bennett, A. Cadogan 0-1 each.
DOUGLAS: D. Dowling; G. Cullinane, S. Moore, C. Mulrooney; P. Beale, A. Walsh, S. Collins; R. Kelly, E. Mulrooney; P. Carroll, M. Carroll, R. Fitzpatrick; O. Bermingham, P. Deasy, A. Lehane.
ST ANTHONY'S: D. Abbott; E. O'Shaughnessy, E. Cantwell, G. Dineen; R. O'Brien, C. O'Flaherty, A. Neville; P. Deasy, E. O'Farrell; T. Kelleher, D. O'Donovan, A. O'Connell; P. Bennett, D. O'Mahony, S. Keane.
Referee, J. Kelly (Blarney NS).
Scoil Eoin, Ballincollig 3-12 Scoil Mhuire Carrigaline 3-7
IT took extra time to decide the issue in this thrilling Roinn 2 final. In one of the best games in these championships at Pairc Uí Chaoimh in years, Ballincollig were hanging on grimly after two excellent points by Brian O'Driscoll had them two points in front at the end of the first period.
It was down to one when the impressive Wayne Bruton had a point for Carrig just after the resumption, and it looked to be their day after Aidan Cotter's pile driver came back off the crossbar with the goal at his mercy.
However in those tense closing minutes, an overworked Carrigaline defence failed to clear the danger and Brian Murray blasted home the all important goal to give his side a thrilling victory.
Darren Murphy, Ala Bourke, Aidan Cotter, Dara Galvin and Brian O'Driscoll were hugely impressive for the winners, while Carrigaline's best were Eoin Brennan, Wayne Bruton, Dylan O'Keeffe, Robert O'Shea and Joshua Sheehan.
Scorers Ballincollig: A. Cotter 1-2; B. O'Driscoll 0-4 (0-2 frees); D. Galvin, B. Murray 1-1 each; M. O'Driscoll 0-2; J. Murphy, L. Walsh 0-1 each.
Carrigaline: J. Sheehan 2-1; R. O'Shea 1-2; D. Drake 0-2; D. O'Keeffe, W. Bruton 0-1 each.
BALLINCOLLIG: G. Hennigan; D. Murphy, B. Phelan, B. Lucey; T. O'Leary, A. Bourke, E. Mythen; L. Walsh, M. O'Driscoll; J. Murphy, A. Co0tter, B. O'Driscoll; B. Murray, M. Solaru, D. Galvin. Sub. S. Murphy for Solaru.
CARRIGALINE: S. Mellett; C. Allen, E. Brennan, J. Wells; M. Hanlon, W. Bruton, C. O'Flynn; K. Spillane, D. Drake; R. Duggan, D. O'Keeffe, C. Sisk; A. Cooney, J. Sheehan, R. O'Shea.
Referee: J. O'Leary (Scoil Iosagain).