Jim McInally's men opened the scoring in the 29th minute as Andy Rodgers netted but it was fitting that top-scorer Rory McAllister hit an impressive second to seal the title with his 28th goal the campaign.
McInally's former club East Stirling paved the way for Peterhead's coronation as they came from behind to beat second-placed Annan Athletic at Ochilview.
Blair Henderson netted for Annan only for Wright to quickly level before Kevin Turner prodded home a last minute winner for the hosts.
Stirling cemented their place in the play-offs as their 2-0 win at Albion Rovers lifted them to third.
Jordan White converted in the 30th minute to open the scoring before David Weatherston sealed victory.
Fifth-placed Berwick still harbour play-off ambitions after a 3-1 success at Elgin City with late goals from Andrew Russell and Josh Morris sealing the win.
Montrose's Paul Watson struck a 57th minute equaliser to earn a 1-1 draw with bottom club Queen's Park for whom Eamonn Brophy had opened the scoring.