
Taylor followed up his 16-6 defeat of Raymond van Barneveld in Sunday afternoon's semis with another brilliant display to take the £100,000 title.
The win earned Taylor a 21st tournament victory of 2009 in sensational style, hitting a 170 checkout during the game and missing double 12 for a nine-darter in the winning leg - settling instead for a 10-darter in wrapping up the triumph.
"I've put a lot of hard work into this and really dedicated myself," said Taylor. "I love the competition and playing on the big stage against all the other players.
"I'm so proud of Scott. He came through a really tough field this week, and he never gave in."
Taylor kicked-off the match with a 14 darter, before winning the second against the darts by hitting double 16.
The Stoke star converted a two-dart 72 finish to win the third leg despite a 180 from his opponent, and soon increased his lead to 4-0 before Waites got into the game with an excellent 105 checkout to win the fifth.
Taylor's domination of the match continued as he won three legs on the spin, in legs of 14, 13 and 14 darts, to move 7-1 ahead.
Waites managed to halt his opponent's flow by winning the ninth leg, after Taylor made rare errors on the doubles, but the world number one won the next two legs to go 11-2 ahead and establish complete command.
He then produced a fabulous 170 checkout after Waites had missed the bullseye for an 81 finish tp move ten legs clear.
Double top gave Taylor a 13-2 lead, and he won the next by recording a 116 checkout to go two legs away from the match.
Taylor missed the bullseye by the slimmest of margins for another 170 checkout, but returned to the oche to land double eight and continue the relentless pace, and set up a potential nine-dart finish in aiming to seal the win.
After hitting back-to-back 180s, he returned to land treble 20 and treble 19, but his attempt at double 12 was a whisker under the wire - mirroring a similar attempt in the European Championship final three weeks ago.
However, he returned to the oche to hit double six for a ten-dart finish to claim the PartyPoker.com Grand Slam of Darts trophy once again.
"I've put a lot of work into this tournament and I'm delighted to win it," added Taylor. "Scott never gave in and played some fantastic darts throughout the week, and he should be proud of himself.
"It means a lot to me to win another title here and I love the challenge."
Despite his heavy defeat in the final, Huddersfield-based Waites – a joiner who will return to work on Tuesday - was able to reflect on a successful week, taking away a cheque for £50,000 - the biggest of his career.
"Phil is hardest person in the game to play, and proved why tonight,"
said Waites. "This week has been fantastic and I'm ready to come back
next year for more."
PartyPoker.com Grand Slam of Darts
Semi-Finals
Phil Taylor 16-6 Raymond van Barneveld
Scott Waites 16-11 Terry Jenkins
Evening Session
Final
Phil Taylor 16-2 Scott Waites
PHIL TAYLOR 16-6 RAYMOND VAN BARNEVELD
PHIL TAYLOR powered into the PartyPoker.com Grand Slam of Darts final with a convincing 16-6 victory over Raymond van Barneveld.
Van Barneveld was unable to produce the kind of form that saw defeat Kevin Painter in the quarter-finals to keep with Taylor, who will now play Terry Jenkins or Scott Waites in the decider.
Taylor won the first leg against the darts with a 13-dart finish, but van Barneveld immediately broke back with an 80 finish.
Both players hit maximums in the third leg, but it was Taylor who won it with a two-dart 66 checkout of bull and double eight.
The world number one then went 3-1 ahead with a 14-darter, but van Barneveld replied in kind to win the fifth leg with an 82 finish comprising bull and double 16 to copy Taylor's earlier checkout.
Taylor hit a 124 checkout to win the sixth leg, but van Barneveld kept with his opponent by converting a 117 finish.
Taylor won the eighth leg after van Barneveld missed a chance to level the game and moved three legs clear with a 14-darter.
Van Barneveld took out an 87 finish after Taylor missed a chance to go 7-3 up to pull back to 6-4, only for Taylor to then step things up by winning four consecutive legs to move clear at 10-4.
A 13-dart finish was followed by a 107 checkout to go four legs clear, and that was followed with finishes of 12 and 15 darts to pull further away from the Dutchman.
Van Barneveld managed to stem the tide briefly by hitting 148 checkout to win the 15th leg, but Taylor won the next two, hitting maximums in both to move seven legs clear.
Taylor kept up the momentum by hitting a 121 checkout, followed by a 14 darter to go two legs away from victory.
A nine-dart finish looked on in the 20th leg, when Taylor opened up with two 180s. The seventh treble 20 was off-target, but the leg was secured when he landed double four.
Van Barneveld did manage to win his first leg in six, after putting together a 14-darter, but Taylor killed off the game in the next when he hit double three.
"I'm over the moon to be in the final," said Taylor. "It's a great tournament and I'm blessed to still be in it.
"Raymond wasn't at his best. He had spells buit seemed very lethargic and let me in. I tried my best and went for it."
Van Barneveld admitted: "I didn't have a good preparation, I didn't sleep well and was tired.
"My average wasn't that bad but I hit my doubles. I'll work on my game and start preparing for the World Championship now."
SCOTT WAITES 16-11 TERRY JENKINS
SCOTT WAITES incredible run at the PartyPoker.com Grand Slam of Darts continued with a 16-11 semi-final victory over Terry Jenkins as he booked a place in Sunday night's final.
Waites, who has doubled his career earnings with this week's performance, will now take on Phil Taylor for the £100,000 first prize.
Jenkins missed four darts at double at the start of the match, allowing Waites to win the opening against the darts.
That soon became 2-0 before Jenkins got off the mark by landing double 20 to win the third leg.
Yorkshireman Waites converted a 94 finish to move 3-1 up, and then won the fifth after Jenkins was guilty of missing six opportunities at doubles.
Jenkins put those errors behind to win the next two legs impressively with a 121 checkout followed by a 15-dart finish.
Waites, who defeated Simon Whitlock in yesterday's quarter-finals then went 5-3 ahead with a 13 darter, but Jenkins kept the gap to just one leg by hitting a two-dart 66 finish.
But the man from Huddersfield pulled away once again to win the next two legs, only for Jenkins to peg again with finishes of 12 and 14 darts to reduce the deficit to 7-6.
Jenkins had a chance to level the game in the 14th leg, but his attempt at double top failed to hit the target and Waites landed double 18 to keep his lead.
The Herefordshire man missed another dart at double in the next leg, and Waites stepped in again by landing double 18 to move 8-6 up.
Jenkins, who reached last year's final then fell further behind as Waites hit double 14 to win the 15th leg, which was followed by a 15-dart leg that included his third maximum of the game.
That left Jenkins 10-6 down, but he opened up the 17th leg with consecutive 180s, before winning it in 13 darts.
Finishes of 96 and 68 in the next two legs put Jenkins just one behind, but Waites landed double 10 and stay ahead at 11-9.
Waites missed a dart at double top for a 120 finish to increase his lead, and Jenkins hit double two to win the 21st leg.
The next leg proved elusive to win as both players missed chances to win it, but Jenkins managed to hit double four to level the contest at 11-11.
Waites regained the lead when he broke his opponent's throw, and followed that by hitting double seven to go two clear.
Jenkins hit his seventh 180 of the contest in the next leg but missed three clear chances to win it, and Waites capitalised by converting an excellent 117 checkout.
Problems on the doubles continued for the sixth seed as two more chances went begging in the 26th leg, and Waites hit double four to go one leg away from victory.
And Waites crossed the winning line in convincing fashion by taking out a 100 checkout by hitting double 16 for a superb win.
"It's amazing, I can't believe I've made it this far," said Waites, a joiner by trade and a former World Masters runner-up.
"Terry didn't play as well as he can and he let me off a bit early on. I've played quite well throughout the week and I took my chances again.
"It's always been my ambition to play against Phil and I get to do it for the first time in the final. Given the way this week has gone, anything could happen!"
Jenkins admitted: "I missed some doubles and Scott was taking his chances out. When we got going it was a good game but I was disappointed with my finishing."