Chasing the elusive Triple Crown (WPT, WSOP and EPT victories) Katchalov came into the final table second to Koutoupas but with about a 3-million chip disadvantage to overcome.
In the end it proved too much as Koutoupas held on to claim the €614,000 first-place prize and his first EPT title.
Katchalov, who dropped to the short stack with five players left and needed a big double-up to stay alive, earned €379,500 for his runner-up finish.
Koutoupas Outflops Everyone to Title
Coming in as the chip leader Koutoupas had the upper hand for the title all the way but needed some fortunate flops to seal the deal.
First he flopped a flush with A♥ K♥ to knock out Harry Law and on the next hand he got it in with KJ against Eli Heath's A8 to see a JTQ flop sen Heath home.
After knocking out Oliver Price Koutoupas took control of the heads-up match with Katchalov and again outflopped Eugene's AK with his A3 to finish things off.
Adding to his second-place finish at EPT Prague in 2012 Koutoupas now has a very solid €1.2m in career live earnings making him #1 all-time in Greece.
The complete final table results and payouts:
1. Sotirios Koutoupas €614,000 2. Eugene Katchalov €379,500 3. Oliver Price €271,200 4. Eli Heath €207,800 5. Harry Law €164,600 6. Rustem Muratov €128,200 7. Carlo De Benedittis €93,000 8. Anthony Lerust €63,900For a full recap of all the action check the PokerStars blog. Watch the full video replay of the final table right here.
Visit www.pokerlistings.com