Unflappable Celtic made it 10 consecutive domestic trophies with an improbable Betfred Cup Final triumph over rivals Rangers.
Christopher Jullien etched his name into club folklore when he turned home the winner in the 60th minute after a spell of dominance from the Ibrox side.
His wait for a goal in this fixture continues as he passed up a host of gilt-edged chances to finally break his derby duck, with Fraser Forster in impregnable form.
It was the Ibrox side who started fast on a wet and wild day at Hampden with Morelos winning an early corner after testing Kristoffer Ajer down the wing.
Skipper James Tavernier's second corner was a pearler and Connor Goldson was left visibly frustrated after his looping header at the back post ended up narrowly wide of the post.
The big Englishman was cursing his luck moments later after he mistimed another effort inside the box.
Celtic – roared on from assistant boss John Kennedy – started to show their teeth and the Hoops faithful came to life after Jeremie Frimpong outmuscled Ryan Kent down the right wing.
And the first real chance arrived shortly after as Lewis Morgan reacted quickest inside the box but his snap shot with his right foot was well wide of Allan McGregor's near post.
Rangers thought they were ahead in the 14th minute but Forster was in position as he brilliantly turned Ryan Jack's 20-yard fizzer clear of the danger zone.
Hoops skipper Scott Brown was quick to remind his team-mates of what was at stake and it was Celtic who had the next opportunity but Goldson defended manfully to cut out Hayes' teasing low cross.
But the holders were creaking and were almost behind as Morelos' blast on target squirmed through Forster and the Hoops only had Hayes to thank as he turned the ball out for a corner.
And the Colombian was in the mood as he hunted for his first goal in this fixture and was in on goal after Ajer gambled with a sliding challenge in slick conditions but his driven effort was ably blocked by Forster. Ryan Kent was left fizzing that his team-mate didn't slide him in.
Rangers supporters inside the national stadium were stunned into silence as Ryan Jack was left writhing in agony after his last-gasp tackle denied Morgan in full flight.
The initial prognosis on his knee looked bleak for the Ibrox enforcer but after a quick once over on the sidelines he was back on the field.
Celtic were gaining a foothold but it was Rangers who had the best chance of the first half as Morelos once again was denied by the brilliant Forster.
The Southampton loan star extended every inch of his 6ft 6in frame as he used his outstretched leg to clear the danger. The 25-goal striker could barely believe it as the ball bounced clear just before the break.
Celtic, fresh from a half-time rocket, came charging out of the blocks and Hayes won a free-kick after James Tavernier body-checked him on the left wing. The Irishman's telling cross caused alarm in the Rangers backline but Helander was able to clear the danger.
But it was Rangers who thought they were ahead when Morelos drifted in at the back post and his teasing effort agonisingly drifted across the goal line.
The Ibrox marksmen couldn't believe it and he was left incensed after a penalty shout was waved away by referee Willie Collum after a coming together with Scott Brown inside the box.
It was becoming a personal battle between Morelos and Forster and the 'great wall' was standing strong he pawed away Morelos' downward header from close range.
Rangers' non-stop pressure led to pre-match doubt Odsonne Edouard having his number called.
And the Frenchman's mere presence on the pitch led to a change in fortune for the Hoops. The striker won a free-kick off of Goldson and Jullien – from an offside position – was on hand to slam home the opener.
But it all unravelled for the holder moments after as Frimpong, so good on the day, hauled down Morelos as Collum pointed to the spot.
And the defender was sent for an early bath after his moment of madness but it was an instant reaction after Jullien and Ajer's slapstick defending put Celtic in big trouble.
Morelos' miss from the spot allowed Lennon to get Nir Bitton on in place of James Forrest as a formation reshuffle took place with Ajer replacing the departed Dutchman at right-back.
Edouard was making the difference and his brilliant hold-up play led to the chance for Celtic to put themselves two clear but half-time sub Mikey Johnston fluffed his lines after tugging his low finish wide of the target.
The academy star was crestfallen after that miss but that wasn't the end of high drama.
Recriminations continued with goalscorer Jullien claiming man of the moment Morelos raked his studs down his achilles.
The striker had the chance to take the game to extra time but a chance in added time flashed across Forster's goal and it became clear it wasn't his or Rangers' day.
Celtic's domestic dominance has never been under threat quite like it was at Hampden but they once again showed their ability to find a way to emerge victorious.
Gerrard and Rangers' wait for silverware goes on.
5 talking points
Forster saves the day
It's been apparent for a while but a forward who can can step up in the absence of Edouard must be identified ahead of the January window. Celtic's whole season could come tumbling down without a viable option up top. Morgan tried his best during the first half but Goldson and Filip Helander had no issues keeping him at bay. More worrying for Celtic is the fact Leigh Griffiths was absent from the squad. The striker has only managed a host of fleeting appearances since August after battling a host on injuries. It would almost be impossible to find a player in Edouard's class but someone, somewhere, must be identified for the second half of the season. But it was all about Forster and his latest incredible display between the sticks. Everything must be done to tie this man down on a long-term deal.
The man who can't stop scoring against everyone else has failed to find a way to banish his Celtic blues. Morelos passed up chance after chance and that penalty miss will sting for some time. He was a constant menace throughout but the ball wouldn't go in. Forster has given likes of Lionel Messi nightmares in the past and the Englishman has added the Ibrox marksmen to a list of stars who could not breach him.
Frim and proper
The rampaging right-back was Celtic's best player on the park before his big afternoon came to an end. His youthful exuberance, which had caused Rangers so many problems, came back to bite him after wrapping his arms around Morelos and hauling him to the turf. But the defender can and will learn from his major error. What can't be denied is this is a player of undoubted quality and Manchester City, despite their vast riches, must be scratching their heads at how they managed to allow this rising talent to escape their clutches.
Collum inches incoming
Whisper it, but Collum rose to the big match occasion, for the most part, with the referee producing a display as commanding as any player on the park for long spells. The whistler has had plenty of days to forget but oozed confidence during a frenetic first half. But all anyone will be talking about is THAT penalty claim. Yes, he did award a stonewaller for Rangers but the Ibrox side are certain they should have had a pair of penalty kicks after Morelos and Brown's coming together.
Hayes of thunder
The Irishman, a peripheral figure for his first two years at the club, has come alive this season and arguably produced his finest 90 minutes in green and white. The auxiliary left-back provides a venom and a swagger and his tireless running from first whistle to last was the stuff of legend. He suffered a sore one from Joe Aribo but, dead leg and all, wouldn't be denied. Skipper Brown has been the club's on-field leader for so long but Hayes and big Celtic results are becoming a common occurence. The former Aberdeen man has played vital roles in both wins against Rangers and the storied triumph over Lazio.