The United States have won the IIHF Under-18 World Championship for an 11th time with victory in Basel ©USA Hockey

The United States gained revenge with a dramatic overtime 3-2 victory over Sweden to win the International Ice Hockey Federation Under-18 World Championship in Basel.

A year after losing to their Swedish rivals in the gold-medal match, the US beat them in a thrilling final at the St Jakob Arena in the Swiss city.  

Sweden led 2-0 only for the US to pull off a stunning fightback, with Ryan Leonard scoring the winner in overtime before a crowd of 4,342.

Looking to make it back-to-back titles, Sweden opened the scoring inside the first 10 minutes when Elliot Stahlberg struck.

Noel Nordh doubled Sweden’s advantage on the 26th minute when he finished off a superb move involving Axel Sandin Pellika.

The US hit back at the start of the third and final period with a goal from Danny Nelson.

Carey Terrance then got on the scoresheet with four minutes of the left, levelling the match and delivering a huge blow to Sweden.

After two minutes of overtime, the US scored the decisive goal courtesy of a strike from Leonard after Will Smith provided the assist.

"It’s pretty special," said Smith after helping the US secure their 11th world title.

"I said it didn’t matter if we didn’t win, and we won so I think it’s pretty cool.

"We’re celebrating everything.

"It’s unbelievable."

The battle for the bronze medal was just as enthralling as Canada beat Slovakia 4-3 in overtime to seal their place on the podium.

Macklin Celebrini broke the deadline on the half-hour mark before Colby Barlow responded to Dalibor Dvorsky’s strike to put Canada 2-1 in front.

Slovakia turned the match on its head when Peter Cisar and Daniel Jencko scored at the start of the third period.

Canada drew level courtesy of a late goal from Matthew Wood before Celebrini slammed home the winner in overtime.