There was a four-way tie-breaker as Praggnanandhaa, Gukesh, Caruana and Alireza Firouzja all finished tied for first.
Rameshbabu Praggnanandhaa is now a household name in India and in the international chess circuit.
India's D Gukesh seemed to keep in reserve his real weapons and signed for peace with Maxime Vachier-Lagrave of France.
After losing to Gukesh in the last Candidates tournament in April earlier this year, Praggnanandhaa had a great opportunity to equalise the score this year but could not find a winning continuation.
The final round of Norway Chess 2024 began with several scenarios that could play out to determine the winner of both the main event and the women's tournament.
India's Praggnanandhaa R went down in Armageddon against Fabiano Caruana, who is having an outside chance of winning the title.
Grandmaster R Praggnanandhaa will take on Fabiano Caruana of the United States in the ninth and penultimate round of Norway chess tournament now underway in Stavanger, Norway.
With the win, Magnus Carlsen stretched his lead to a full point over Hikaru Nakamura of United States, who lost to Firouzja Alireza of France.
R Praggnanandhaa's victory comes after he defeated higher-ranked players including Magnus Carlsen and Fabiano Caruana earlier in the competition.
Pragganandhaa lost to Firouzja Alireza of France in the Armageddon tiebreaker, and is now third on 9.5 points in total.