It was so very nearly a second win for Mullins, who was aboard Rule The World two years ago and fought back tears as the result was announced.
After seeing victory and the £561,000 first prize so very nearly snatched away in front of 70,000 spectators and an estimated global television audience of 600 million, a breathless Russell said: "I had a big fear that I had been done on the line. That would have been heartbreaking. Luckily enough, he held on."
Revealing his thoughts had turned to his recently-departed mother and top flat jockey Pat Smullen, who was recently diagnosed with a tumour, he added: "Any amount of things went through my mind when I won. I was thinking of Pat Smullen, I was thinking of my mum, my family at home, my kids. I was thinking of all the times that my dad cut the grass at home.
"I've won this race thousands of times in that garden and I've never won it like I've done today.
"You watch this race on TV when you're a kid and say, 'Look at them they're the best men in the world'. Then, I'm on my way to the start and the commentator says I'm the oldest jockey in the race. I remember thinking, 'God - could this be my last time? It might be time to pack it in if I'm the oldest in the race! I'm joking, of course."
O'Leary said: "I was bloody panicking at the line!
"It was very close at the end and a well-judged ride by Davy. It's a phenomenal training feat by Gordon.
"This was a horse - he's a rat of a little thing - we bought to hopefully run in the Triumph Hurdle at Cheltenham, which he won. Now he has gone back and won the four-miler and the Cross Country, and now to win the greatest steeplechase of all, it's phenomenal.''
Equally jubilant trainer Elliott said: "I was nervous when they announced the photo-finish. I thought I had it but you are so nervous watching it. I can't believe it, to be honest. I've said I didn't appreciate it first time round - I'll definitely appreciate it now."
A photo-finish was also required to determine third place, which went by a neck to Bless The Wings.
