The Austrian ski jumper was the man to beat heading into the competition having claimed the title last season, but no one had held on to the silverware since Janne Ahonen did so in 2006.
But all that changed as Schlierenzauer scored 272.7 points for the win, ending the competition on 1100.2 points.
This was Austria's 14th Four Hills victory and their fifth straight, with Schlierenzauer never finishing any lower than second across the four jumps.
Anders Jacobsen finished the Four Hills second and compatriot Tom Hilde was third, the first time in more than 30 years that two Norwegians were seen on the podium.
There was more to cheer about for Schlierenzauer as the 22-year-old extended his World Cup lead as he sits top on 808 points, German Severin Freund his nearest challenger in second on 556.