The Lisburn-based school achieved the landmark feat after a 24-15 win over Royal School Armagh at a packed Kingspan Stadium.
After five near-misses in the competition, there would no further heartache this time around as Rio McDonagh (2), James Gould and Luke Dillon scored tries for Wallace.
Here’s some of the best action and celebratory shots from the day.
5. PACEMAKER PRESS BELFAST 17-03-25 Danske Bank Schools Cup Final Royal School Armagh v Wallace High Players of Wallace celebrate winning the Schools Cup at this afternoon’s final at Kingspan Stadium. Photo - Andrew McCarroll/ Pacemaker Press
Players of Wallace celebrate winning the Schools Cup at this afternoon’s final at Kingspan Stadium Photo: Andrew McCarroll
6. Schools' Cup Final
Both Royal School and Wallace are involved in a coming together during this afternoon’s final at Kingspan Stadium Photo: Andrew McCarroll
7. Schools' Cup Final
Luke Dillon of Wallace scores a try during this afternoon’s final at Kingspan Stadium Photo: Andrew McCarroll
8. Schools' Cup Final
Luke Dillon of Wallace scores a try during this afternoon’s final at Kingspan Stadium Photo: Andrew McCarroll