Despite being out-foxed by Chili in race one, Edwards was still determined to win from the front and pressed his tyres to the limit on the final tour. Chili was too far back to make a move going in to the Parabolica this time, instead preferring to tuck himself up behind the Honda for a slingshot onto the finishing straight. The gamble nearly paid off for Chili as the two bikes weaved from one side of the track to the other with Edwards getting the verdict by 0.031 seconds compared to Chili's 0.028 margin of victory earlier in the day.
While Edwards took time to celebrate his victory in front of the Monza crowd who knew they had seen a pair of superb races, Chili still found time to throw most of his clothes into the crowd.
The remainder of the field trickled home with Yanagawa leading the 15 other survivors across the line to complete the podium. Troy Bayliss was understandably delighted with his pair of fourth's on his first ride substituting for Carl Fogarty on the factory Ducati while Haga finished fifth, losing his championship lead to Edwards. Corser came in a lonely sixth ahead of an equally lonely Aaron Slight who rode courageously on just his second weekend back from injury. The race-long battle for eighth was finally settled in Meklau's favour who atoned for his race one disqualification while Katsuaki Fujiwara on the second factory Suzuki and a revitalised Ben Bostrom rounded out the top ten.