Carlos Sainz claimed his second career F1 victory, the first coming at the 2022 British Grand Prix
Sainz managed the race expertly from the front while Verstappen fought back to fifth place after starting in 11th on a difficult weekend for Red Bull.
Sainz led McLaren's Lando Norris and Mercedes' Lewis Hamilton nose to tail across the line after George Russell crashed out of third place on the last lap.
Russell and Hamilton gambled on a late pit stop for fresh tyres and charged back up to Sainz and Norris but could not pass before Russell's late error.
It was a dramatic climax to an intriguing race that ebbed and flowed throughout its close to two-hour running time, with a safety car, a virtual safety car and some close racing through the field, a fitting event to mark the ending of Verstappen's all-time record of 10 consecutive victories.
Sainz's second win for Ferrari after last year's British Grand Prix was the first time a Red Bull had failed to win since Russell won the penultimate race of last season in Brazil.
"We nailed the weekend, we nailed the race and we did everything we had to do, and we did it perfect," said Sainz. "We brought home P1 and I'm sure the whole of Italy and the whole of Ferrari are going to be proud and happy today.
"I felt under control, I always felt like I had the head-space and the pace in hand to do whatever I wanted to do. I'm over the moon right now."
-- Courtesy of BBC Sport