Dominic Calvert-Lewin’s rebounded effort midway through the first half was enough for England to see off Venezuela in the final in Suwon.
Freddie Woodman saved Adalberto Penaranda’s penalty after he controversially went down in the box.
Goalscorer Calvert-Lewin said after the match: "Words can’t describe right now what I’m feeling, I’m just trying to take it all in.
“I was knackered from the celebration, but honestly, words can't describe it all. It means everything.
“It's what you dream of as a kid, playing for your country and winning a World Cup."
The Young Lions had reached the final after topping their group and beating off Costa Rica, Mexico and Italy in the knockout rounds.
They had the lion’s share of the chances in South Korea - Josh Onomah hitting the crossbar.
But Venezuela also had their opportunities as Ronaldo Lucena hit the post and Adalberto Penaranda fired wide from distance.
GETTY
Calvert-Lewin's strike won it for England
GETTY
Freddie Woodman saves the penalty to see England to victory
The breakthrough came on 35 minutes when Everton’s 20-year-old Calvert-Lewin latched on to a long ball and reacted to the save of his initial shot to squeeze home.
Venezuela were forced to take pop shots form distance but Woodman proved more than a match for the efforts.
The second half saw the South Americans come out strongly and were it not for two Lewis Cook clearances the scores could have been level.
And they had Woodman to thank again with 20 minutes remaining when he got a strong hand to Penaranda’s penalty to keep the Young Lions in front.
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