All bets were on Vampire to take out the top spot, with both Sportsbet and TAB placing her as number one.
Kebab - AKA Jack Vidgen - was revealed in the penultimate episode, coming in at fourth place. Dolly was expected to place second, while Mullet had the least impressive odds and was slated to follow in third place.
In the end, the betting odds came true, with Mullet placing third. Former Home and Away and Agents of SHIELD star Axle Whitehead was unmasked as Mullet in the thrilling finale.
Dolly placed second, with radio host, comedian and singer Em Rusciano being revealed before the final star - Anastacia - removed their mask.
Anastacia had been tipped to win, with fans uncovering the star beneath many of the show's big clues and hints.
"I am Vampire and I am eternal. I do not fear the daylight, I embraced it and it embraced me. It fed me when I most needed it," one clue read.
Want to take a guess which record label gave Anastacia her big break? Daylight – a label that belonged to Sony Music Entertainment.
One clue hinted that Vampire’s don’t “concern ourselves with stupid things” and Anastacia released a song called Stupid Little Things in 2014.
Another hinted at a connection to Freddie Mercury. Anastacia performed with Queen in South Africa in 2003 and played the Killer Queen in the Dutch We Will Rock You musical in 2019.
Yep, the I'm Outta Love singer was hiding in plain sight the whole time.
Now that The Masked Singer has wrapped, Celebrity MasterChef Australia will be the next feel-good show to premiere on 10. See who's joining the cast here.