The 23XI Racing star started in 15th position, but with the help of team-mate Tyler Reddick, Wallace rose through the pack and eventually claimed the lead.
Wallace faced a late surge from Ty Dillon, but the #10 misjudged how close he was to AJ Allmendinger's car, and clipped the #16 which forced Dillon into the wall.
Meanwhile, Wallace managed to hold onto his lead and make it to the finish line to claim his first duel victory.
Wallace’s win places him in the third starting spot behind Chase Briscoe and Austin Cindric for Sunday’s Daytona 500, an event he is yet to add to his collection of race victories.
Bubba Wallace claimed his first duel victoryCan Bubba Wallace win Sunday's Daytona 500?
Wallace celebrates Daytona 500 win with son
Following Wallace’s stunning duel win, NASCAR revealed the #23’s good luck charm in a heart-warming social media post of Wallace with his family post-race.
The 31-year-old celebrated his win with his wife, Amanda, and their newborn son Becks, with Wallace holding his baby who was decked in a pair of adorable ear defenders.
NASCAR posted the picture to their social media account alongside the caption: "we think Becks is your good luck charm."
Speaking after the race, Wallace also credited his 23XI team-mate for his win and heralded their teamwork.
“To finally get a win, I hope it’s the right stepping stone for accomplishing Sunday,” Wallace said.
“I thought it was pretty cool just seeing how well we worked together and moving to that top lane forward together the whole night. That was really, really special. All in all a good night for the team.”