كتب : Hatem Maher
Filippo Inzaghi deflected Andrea Pirlo's free-kick just before the interval to open the score line before killing off Liverpool's hopes eight minutes from time.
Liverpool's Dutch striker Dirk Kuyt narrowed the gap two minutes before the final whistle but the five-time European champions didn't have much time to snatch a dramatic equalizer.
Milan, who were stunned by a thrilling comeback from Liverpool that saw the Reds overturn a three-goal deficit before winning on penalty shootout two years ago, have become two titles short of Real Madrid's record of nine European triumphs.
Liverpool boss Rafael Benitez deployed Kuyt as a lone striker, supported by Steven Gerrard while Milan manager Carlo Ancelotti played with a similar strategy upfront, as Inzaghi was assisted by Brazilian playmaker Kaka.
Right-winger Jermaine Pennant was Liverpool's main threat in the first-half as he capitalized on several errors and poor positioning by Marek Jankulovski to launch attacking waves from the right flank.
After 10 minutes, Pennant stole possession from Jankulovski before exchanging the ball with Kuyt and hitting a low shot that was palmed away by Milan keeper Nelson Dida.
Four minutes later, Kaka's chip beat the offside trap but Inzaghi was too slow to get to the end of it. Alberto Gilardino's pace could have been influential in Milan's first attempt.
Kaka's right-footed shot following Jankulovski's long ball was easily collected by Jose Reina in the 17th minute.
In the 23rd minute, Pennant burst down the right-flank and his cross was chested down by Gerrard on the edge of the area but the England international's shot flew high over.
Xabi Alonso had another effort four minutes later when Boudewijn Zenden's mis-hit shot was cleared by Paolo Maldini into the path of the Spanish midfielder, whose low drive went just wide of the post.
Milan were ahead against the run of play just before halftime when Pirlo's free-kick deflected off Inzaghi's body and went into the back of the net.
Gerrard should have leveled the score three minutes past the hour mark when he pounced on a miss-pass by Gennaro Gattuso to go clear on goal but his shot was too tamed to bother Dida who easily saved it.
Liverpool dominated in terms of possession but couldn't break through Milan's resilient defense, led by impressive duo Alessandro Nesta and skipper Maldini.
Italian international Inzaghi doubled the lead in the 82nd minute after he latched on to Kaka's through pass before rounding Reina and slotting into the empty net.
Kuyt pulled one back two minutes from time when he headed home Daniel Agger's flick-on from Pennant's corner but the goal proved to be just a consolation as the Rossoneri held on to their lead to claim the prestigious trophy.