The Buckeyes, who were a controversial choice for the four-team bracket, overcame the odds to beat the Ducks thanks to a 246-yard rushing effort from Elliott, who scored four of their touchdowns.
Third-string quarterback Cardale Jones shook off four turnovers to throw for 242 yards and one touchdown, standing toe-to-toe with Heisman Trophy winner Marcus Mariota and coming out on top.
Mariota, who admitted afterwards he is undecided about entering the NFL draft, threw for 333 yards and two scores but Oregon’s fast-paced offense was slowed down all game by the Ohio State defense.
They pulled within a point at 21-20 when Mariota launched a 70-yard touchdown pass but the Buckeyes turned to Elliott consistently in the second half and he delivered his third straight 200-yard plus rushing performance.
“This will go down as one of the great stories in college football history,” Ohio State coach Urban Meyer said. “(It’s a story of) closeness, selflessness and team.
“These guys accepted their final mission and did it. This is a heck of a football team in scarlet and gray and I want to celebrate with the guys I love.”