The 30-year-old pulled off a leap of 244m on his second outing – just 2.5m shy of Johan Remen Evensen’s world record in Norway – to help him to a winning total of 408.7.
Following on from the cancellation of Friday’s round, where Severin Freund was leading, three were scheduled a day later however that was reduced to two much the benefit of Kranjec.
He was placed third after the first round with 211.3 points following a leap of 217.5m with Martin Koch second with 212.5 overall and home hope Rune Velta leading with 215.2.
Evensen’s record was close to being beaten before Kranjec’s efforts – Anders Fannemel jumping an impressive 244.5m in the first round however with other factors taken in he was placed fourth.
Daiki Ito led for a period of the second round with an effort of 219m giving him 365.2 but the competition got better as it near its end with Freund overtaking the Japanese jumper.
World Cup leader Anders Bardal couldn’t better Freund’s overall total of 372.6 as he ended seventh but Kranjec, following Fannemel who finished 15th, did just that.
He jumped 244m for an overall winning total of 408.7 with Koch jumping 243m in response next up but a fall on his landing meant he ended third with a total of 386.2.
Velta, the last jumper of the second round, did his best to give the home crowd the gold they desired but his effort of 234.5m produced a total agonisingly short – 405.7 leading to silver.