In a final night of high drama in Germany, the English pairing overcame Belgium with two superb individual displays as Taylor defeated Ronny Huybrechts 4-3 and Lewis overcame Kim Huybrechts 4-2 in their semi-final.
Scotland then knocked out reigning champions Netherlands in a thrilling Doubles decider to put themselves into the final for the first time in the 32-nation pairs event.
Wright had initially lost a high-quality clash 4-3 to Michael van Gerwen - as the Dutchman topped a 106 average and sealed victory with an 11-darter - before World Champion Anderson swept aside van Barneveld 4-1.
Despite van Gerwen firing in a 126 bull finish to win the second leg of the Doubles contest, Scotland claimed a 4-1 victory to move through to face England as an old sporting rivalry took to the darting stage.
Taylor kicked off the final with an amazing 113.43 average - an individual record for the World Cup of Darts - in a 4-0 whitewash of Wright, only to see Anderson see off Lewis 4-1.
The Doubles clash then went the way of England as Taylor took out 101 to win the deciding leg for a 4-3 triumph - only to then see himself beaten by a sublime Singles display by Anderson, who averaged 108 and took out finishes of 150 and 110 in a 4-1 win.
That sent the final to a decisive Singles tie between Lewis and Wright, and it was the two-time World Champion who rose to the occasion.
Lewis recorded checkouts of 87, 70 and 74 to take a 3-0 lead, and though Wright responded with an 11-darter, the Englishman took the next in 14 darts to give England the title.
"It's absolutely fantastic and I'm a little bit lost for words," admitted Lewis, who shares a £50,000 first prize with Taylor.
"That last game against Peter was probably harder than playing in a World Championship final because it was the first to four legs and you've got the nation's hopes on you, and I pulled through.
"We did it as a team and that's the third time in four finals that we've won, but it's my first trophy of the year so it's special on that front."
England had defeated Denmark, Japan and Germany in reaching Sunday night's final stages, and Lewis added: "It's a massive win for us because the standard now is fantastic.
"Hong Kong won through to the quarter-finals and it shows how good the players are who are coming through now and we'll be expecting a lot more from countries like that in years to come."
The triumph saw 16-time World Champion Taylor add yet another title to his glittering roll of honour, and he added: "It's absolutely fantastic - this is more special than any other World Cup I've played in and I've really enjoyed it.
"I think the final was probably the best we've had and I couldn't be any proud of Adrian with how he played in that last game against Peter. He's a confidence player and he got off to a great start, and that was it from there.
"Those finishes were some of the biggest he's done in his career but all the players were pulling the stops out because Gary Anderson was brilliant against me there too.
"To see Adrian win it was extra special for me. I've enjoyed every minute of it with Adrian this weekend and it's helped us relax."
Scottish pair Anderson and Wright had produced their nation's best finish in the five-year history of the tournament, and picked up £13,000 each as the beaten finalists.
Anderson had been bidding to add the World Cup of Darts title to the World Championship, Premier League and Players Championship Finals crowns he has claimed in the past seven months, and he conceded: "It wasn't to be tonight but we gave it everything.
"Peter was in brilliant form throughout the weekend and I had my moments too, and we loved it. It's been a fantastic tournament and we had a great time, and hopefully we can go one better next year."
Wright added: "It's great to have reached the final and we both really enjoyed the weekend.
"The crowds were great and the support they gave us was fantastic, and though it's disappointing that we couldn't quite win that final it's an achievement to be there."
bwin World Cup of Darts
Sunday June 14
England 2-0 Belgium
Scotland 2-1 Netherlands
England 3-2 Scotland
ENGLAND v BELGIUM
Singles One: Phil Taylor v Ronny Huybrechts
1-0 - Taylor makes a statement of intent with a 180 in an 11-darter to open the game.
1-1 - Huybrechts responds superbly with a 142 checkout to level.
2-1 - Taylor finishes a 14-darter on double ten.
2-2 - Huybrechts opens with a 180 and is given a let-off for a miss at tops when two misses from Taylor allow him back in to level.
3-2 - Both players miss the bull to take the leg before Taylor returns on double eight to hold throw.
3-3 - Huybrechts finishes 70 on double eight with a fine two-dart combination to take the game into a deciding seventh leg.
4-3 - Taylor produces a final leg, scoring 100, 140 and 180 before finishing 81 on double 16 to take the win for England.
Singles Two: Adrian Lewis v Kim Huybrechts
1-0 - Double 18 gives Lewis the opening leg in 13 darts.
2-0 - Lewis fires in six perfect darts with two 180s, and after missing out on a nine-darter he eventually takes the leg on double ten.
3-0 - Huybrechts misses the bull to finish 90, and Lewis lands double eight to move England a leg away from the final.
3-1 - Huybrechts keeps his hopes alive with an excellent 14-darter, hitting a 180 and double eight.
3-2 - Lewis misses double 16 to claim victory with a 101 finish, and Huybrechts steps in to land double 16 and continue his revival.
4-2 - Lewis finishes 71 on tops to secure England's place in a fourth successive bwin World Cup of Darts final.
Doubles: Not Needed
Final Score: England 2-0 Belgium
SCOTLAND v NETHERLANDS
Singles One: Peter Wright v Michael van Gerwen
1-0 - van Gerwen misses a dart at tops, and Wright hits the same bed to win the opening leg.
1-1 - The pair trade 180s, with Wright missing two darts at double 16 to allow van Gerwen back in to level.
2-1 - Wright lands a 180 before finishing 61 on double nine.
2-2 - van Gerwen finishes 86 on double seven to square the game again.
3-2 - van Gerwen lands a 180 but misses double 12 to finish 141, allowing Wright in to take out another 61 checkout.
3-3 - The pair trade 180s for the second time in the game, with Wright unable to take out 121 to allow van Gerwen in for a two-dart 98 finish.
3-4 - van Gerwen kicks off the deciding leg with a 180 against the throw, before finishing 82 with a bullseye, double 16 combination to snatch a brilliant win for the Netherlands in the opening Singles game.
Singles Two: Gary Anderson v Raymond van Barneveld
1-0 - Anderson makes a brilliant start, hitting a 180 in a 12-darter to kick off the game, finishing tops.
1-1 - van Barneveld posts double 16 to finish 91 as he levels.
2-1 - Anderson initially misses eight darts at a double across three visits, but van Barneveld misses the bull and two darts at double 16 to capitalise, allowing the Scot back on double two.
3-1 - van Barneveld hits a 180, but Anderson takes out double ten for a 14-darter.
4-1 - Anderson scores 180, 140 and 135 before finishing double ten for a 13-darter to seal the win and send the tie into a Doubles decider.
Doubles: Peter Wright & Gary Anderson v Michael van Gerwen & Raymond van Barneveld
1-0 - van Gerwen misses tops for a 116 finish to break throw, and Anderson pins double top to give Scotland the lead.
1-1 - van Gerwen levels for the Netherlands, scoring 174 during the leg before finishing 126 on the bull.
2-1 - Wright lands a 180 before Anderson sets him up for tops as Scotland regain the edge with a 13-darter.
3-1 - van Barneveld misses tops to finish 64, and Anderson lands double ten to move Scotland to the brink of victory.
4-1 - Wright opens with a 180 before van Gerwen lands a maximum, with Wright finishing 61 on tops to put Scotland into the final.
ENGLAND v SCOTLAND
Singles One: Phil Taylor v Peter Wright
1-0 - Taylor finishes 24 for a 14-darter to open the game in style.
2-0 - Taylor lands a 180 before finishing 81 on the bull to double his lead.
3-0 - Taylor takes his average to 118 in-running with a 13-darter, finishing double eight after another 180.
4-0 - Taylor seals the win in style by taking out 130 on double five, ending the game with a 113.43 average to give England the opening match.
England 1-0 Scotland - First To Three
Singles Two: Adrian Lewis v Gary Anderson
0-1 - Anderson finishes double 16 to win the opening leg.
0-2 - A brilliant leg sees Anderson land two 180s and Lewis fire in one maximum before the Scot finishes double ten to move two legs up.
0-3 - Lewis lands a 180 but misses one dart at double 16, allowing Anderson in to finish double 12 to move three legs up.
1-3 - Lewis opens with a 180 before finishing 60 on double ten to win his first leg of the contest.
1-4 - Anderson lands double ten for a 14-darter to claim the win and level the final with a 103.14 average.
England 1-1 Scotland - First To Three
Doubles: Phil Taylor & Adrian Lewis v Peter Wright & Gary Anderson
1-0 - Taylor lands double 12 to complete a 13-darter for England to open the game.
1-1 - Anderson fires in a 180 before hitting double 16 to level for Scotland.
2-1 - Both Taylor and Lewis land 180s before Taylor finishes double six for a 14-darter to move England back ahead.
2-2 - Scotland level with a 13-dart leg, as Wright's 180 is followed by a maximum from Lewis before Wright lands double top to square the game.
3-2 - Lewis leaves Taylor 32 to allow the 16-time World Champion to finish double 16 for a 14-darter to nudge England back into the ascendancy.
3-3 - Wright takes out 70 on tops to level matters and force a deciding leg.
4-3 - Wright's 134 is followed by a 135 from Anderson, but both Englishmen land 140s before Taylor takes out 101 on double four to move England back ahead in the final.
England 2-1 Scotland - First To Three
Singles Three: Phil Taylor v Gary Anderson
0-1 - Anderson finishes 61 on double 18 to claim the opening leg.
1-1 - Anderson hits a 180, but misses tops to finish 80 as Taylor returns from an earlier missed bullseye to claim the leg.
1-2 - Taylor leaves 40 to break throw, but Anderson takes out a brilliant 150 to move back ahead.
1-3 - Taylor lands a 180 but misses three darts at tops, and Anderson steps in to finish 110 in superb fashion on double 15.
1-4 - Anderson seals a fine win with a 108.04 average, hitting three 140s before taking out 81 on double four for a 12-darter.
England 2-2 Scotland - First To Three
Singles Four: Adrian Lewis v Peter Wright
1-0 - Lewis kicks off with a 14-darter, landing a 180 before finishing 87.
2-0 - Lewis doubles his lead with another 14-dart finish, taking out 70 on double eight.
3-0 - Wright fires in a 180 to leave 59, but can only watch on as Lewis finishes 74 in two darts to move a leg away from the title.
3-1 - Wright scores another 180 before finishing 46 for an 11-darter to keep the final alive.
4-1 - Lewis opens with 140 and 180 before finishing double ten for a 14-darter to claim glory for England for the third time in four years.