The game ended 3-3 in 90 minutes after Cleethorpes were originally 2-0 down within the first 15 minutes of the final.
Stamford had the brighter start to the match with Jake Duffy and Josh Egginton scoring to give them a 2 goal lead.
Cleethorpes pulled one back before the half time whistle as striker Scott Vernon headed in Josh Batty’s cross.
Cleethorpes managed to turn the game on its head in the second half, as they scored 2 goals in the space of 4 minutes.
The first goal back came from Josh Batty who tapped in from Tim Lowe’s cross to make it 2-2, minutes later Scott Vernon gave Clee Town the lead as the former Grimsby striker pounced on the rebound from Alex Flett’s shot.
Stamford did equalise in the final 10 minutes of the game as Ollie Brown-Hill slotted the ball past Birch to make it 3-3 and send the game to penalties.
Cleethorpes won 5-3 on a penalty shootout to win the cup after captain Alex Flett scored the deciding penalty.
It was a historic night for the Owls, as it’s the first time they have ever won the competition which dates all the way back to 1881.
There was great scenes of celebration after the penalty shootout, with the Cleethorpes players celebrating with the travelling supporters.
The trophy win could be a big turning point for the club, as they’re currently bottom of the Evo Stik East table so they will be hoping that this win could be a springboard to help get their season back on track.