Davis said the loss to Waubra, the only defeat in 2007, played a vital role in the Bulldog's Central Highlands Football League premiership.

"The loss to Waubra definitely helped us," Davis said.

"We might have been six or seven goals up at half time of the grand final and got rolled if we didn't learn the things we did in that loss," he said.

The Bulldogs beat the reigning premier Waubra by eight points at AUSTAR Arena on Saturday.

A huge crowd of about 7000 including scores of Daylesford people turned out in the sunshine to the North Ballarat oval.

Daylesford's last premiership came in 1961 when it beat Maryborough in the Ballarat Football League.

Davis said the Bulldogs adopted a different style of play during finals.

"All year we beat sides with big scores. Those games were shoot-outs, but shoot-outs don't work in finals," Davis said.

Clayton Scoble was best on ground and Trent Nesbitt, Cade O'Brien, Josh Cowan, Scott Winduss and Luke Adams also helped break the 46-year premiership drought.

The match ws close all afternoon as both sides played a tight brand of football.

Waubra threatened for the entire match and had a strong chance of winning at three-quarter time.

However, key moments in the last quarter swung momentum Daylesford's way.

A strong breeze pushed Waubra's and, particularly Lee Brown's, attempts at goal left to right, meaning the reigning premiers' momentum wasn't translated to the scoreboard.

Kangaroo defender Leith Pellissier fumbled in the Bulldogs' goal square and Scoble pounced on the loose ball to put his side back in front.

Jamie Evans sealed the triumph with a goal at the 18-minute mark of the final stanza.

Waubra coach Shane Skontra paid tribute to Davis and Daylesford Football Club during post-game presentations.

Davis said Skontra was gracious in defeat.

"If every club was like Waubra then we'd have the most outstanding competition," he said.

The captain-coach of Daylesford's 1961 premiership Jim Gull was at AUSTAR Arena on Saturday.

A message to all players from Gull was read before the match and players thanked the long-time supporter during a lap of honour.

Davis said he would decide whether to coach the Bulldogs again next season within the coming months.

Waubra won the reserves premiership, Bungaree won the under-18 and Dunnstown is the under-15 champions.

The gate was $39,212, a record for a CHFL grand final.