The first big moment of the match came when Wade produced a 157 finish against the throw to level things up at one apiece but Wright rattled off five of the next six legs as he stormed into a 6-2 lead.
Wade fought back to secure two legs on the bounce and head into the second interval at 6-4.
Wright regained his four-leg cushion after the break to move into an 8-4 lead as Wade looked like he started to falter before producing a 14-dart leg to reduce the deficit slightly again.
Wade smacked in his first maximum of the match in the next leg but it was not enough to stop Wright from moving to within two of the title.
Wright’s break of throw in the next leg put him to within a leg of the match and despite missing three championship darts at the double, he made no mistake in checking out 96 in the next leg to lift the trophy.
European Championship: Tournament results
FINAL
(9) Peter Wright 11-6 James Wade (26)
SEMI-FINALS
(9) Peter Wright 11-8 Danny Noppert (12)
(26) James Wade 11-9 Gian van Veen (27)
QUARTER-FINALS
(32) Chris Dobey 8-10 Peter Wright (9)
(4) Gerwyn Price 8-10 Danny Noppert (12)
(2) Luke Humphries 6-10 James Wade (26)
(3) Michael van Gerwen 6-10 Gian van Veen (27)
ROUND TWO
(32) Chris Dobey 10-8 Stephen Bunting (17)
(8) Michael Smith 4-10 Peter Wright (9)
(4) Gerwyn Price 10-5 Nathan Aspinall (13)
(5) Rob Cross 7-10 Danny Noppert (12)
(2) Luke Humphries 10-5 Krzysztof Ratajski (15)
(26) James Wade 10-1 Jose de Sousa (23)
(3) Michael van Gerwen 10-7 Ricardo Pietreczko (14)