The 2006 Winter Games was officially closed by International Olympic Committee president Jacques Rogge amid a carnival and circus celebration.
The closing ceremony, which ended with an array of fireworks at Turin's Stadio Olympico, featured Ricky Martin and Andrea Bocelli among 2,350 performers.
As it reached its finale, Rogge said: "I declare the 20th Winter Olympic Games closed.
"I call upon the youth of the world to assemble in four years in Vancouver."
The Games then officially ended with an eight-minute piece produced by the Vancouver 2010 organisers before the final celebrations.
Prior to their presentation, the Olympic flag was handed to Vancouver mayor Sam Sullivan, a quadriplegic since breaking his neck skiing at the age 19, who used a specially-modified electric wheelchair to unfurl the banner.
"I promise we shall continue to fight for a pure and healthy sport"
Among the other big names in the crowd were former New York Mayor Rudolph Giuliani and motorsport legend Mario Andretti.
All of the athletes attending were handed red clown noses as they entered the stadium to enable them to join in with the circus atmosphere, while the 35,000 spectators were given devil and angel masks.
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Clowns on swings, acrobats dangling high above the stage, dancers dressed as Tarot cards and an array of Italian transport, including vintage Fiat 500s, were among the ceremony's main attractions.
Despite such varying acts, the biggest cheer of the night belonged to Italy's Giorgio di Centa, who was awarded his gold for winning the 50km cross-country race - the penultimate event of the Games.
Appropriately he was handed his medal by his sister Manuela, a five-time Winter Olympian, two-time gold medallist and IOC member.
Security had been tight throughout with the airspace for an 8km radius around Turin closed for the duration of the ceremony.
But despite tight security one protestor briefly managed to make his way to the stage as event organiser Valentino Castellani bade farewell to the Games.
Rogge then followed Castellani's speech to praise both the Italian organisers and the athletes, calling it a "magnificent Games" but he also used the farewell to raise the doping issue once more.
"The IOC fights untiringly against doping to protect you," he said. "I promise we shall continue to fight for a pure and healthy sport."