The two-time All-Australian was pivotal in the Lions' stunning late fightback to overcome Fremantle by seven points in the grand final.
Bailey produced a miracle goal in the closing stages, bouncing off Dockers star Caleb Serong and snapping around the body to bring the Lions within five points.
He even surprised himself when his hack shot sailed through.
"It was a bit of a fluke," the 27-year-old told AAP after a 20-possession and two-tackle performance.
"I bumped Caleb Serong and the ball sort of just sat in my lap.
"He's a pretty tough guy and hits hard so I was surprised it sat there and I just threw it on the boot and it went through. Sometimes you need a bit luck."
Bailey, recruited by the Lions with pick 15 in the 2017 draft, enjoyed another outstanding season with 35 goals and averaged a career-high 21.5 disposals.
After Brisbane's qualifying final loss to Sydney, the restricted free agent officially turned down a monster offer from Adelaide to ink an eight-year deal to stay at the Lions until the end of 2034.
The decision now gives him the chance to be part of the Lions' tilt for four straight premierships, a feat unmatched in AFL/VFL history since Collingwood in 1927, 1928, 1929 and 1930.
"I was saying all year, I want to stay at this club," Bailey said.
"It was just about getting the right terms and I think all that chat didn't really affect my footy this year. I was still able to go out there and perform every week.
"When I first got to the club, we were bottom of the ladder. We weren't in a great place.
"To look back after nine years and be a three-time premiership player who played in four grand finals is something that I wouldn't have dreamed of."
While star veteran Lachie Neale is a confirmed offseason departure, Bailey believes Brisbane still have plenty in the tank to be in the hunt for a fourth successive flag.
"They're pretty tough to win but Will Ashcroft, Logan Morris - these young guys are coming through," he said.
"I think this club will be in a pretty good position in the coming years."
Brisbane's famous side of the early 2000s were unable snare a fourth straight flag, falling at the final hurdle to Port Adelaide.
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