The Brit went into the competition as a possible contender to pick up a medal but after two runs he sat down in eighth.
Heading into the final run, Morgan had nothing to lose and everything to gain and he pulled off a magical routine with a double grab to move up into the medal positions.
Morgan punched the air as he nailed the landing and awaited the scores from the judges.
And he couldn’t quite believe it as he was given a 85.50 that proved good enough for bronze.
Then it was a nervous wait as other jumpers competed to take third place away from him.
Max Parrot was the final one to go, a silver medallist in the slopestyle at this Olympics, but he choked on his final jump, leading to scenes of jubilation from the British section of fans.
In picking up the bronze, Morgan ensured Great Britain achieved their greatest ever medal haul at a Winter Olympics with five.
Sebastien Toutant won gold for Canada while USA’s Kyle Mack finished in second for silver.
Dom Parsons (bronze), Lizzy Yarnold (gold), Laura Dees (bronze) and Izzy Atkins (bronze) are the other medallists for Great Britain in Pyeongchang so far.