Barry Almeida's goal six minutes into overtime gave the Lancers a 4-3 win over Waterloo in their fifth and deciding game for the USHL Clark Cup championship Saturday night at the Mid-America Center.
The Lancers won their seventh Clark Cup title and first since 2001, their third under coach Mike Hastings.
Waterloo led 2-1 in the third period when Ben Arnt and Patrick Wiercioch scored for Omaha.
Chad Billins tied it up at 3-3 on the power-play, sending the game into overtime.
Drew Palmisano was named the Most Valuable Player for the Clark Cup playoffs, posting a record setting four shutouts, including two in the final series against Waterloo.