Reigning premiers Collingwood withstood a spirited Essendon fightback to win only their second AFL pre-season title, beating the Bombers by 22 points.

Essendon trailed by just three points at 10 minutes into the last quarter before the Magpies powered away to win 1.15.9 (108) to 0.13.8 (86) on Friday night at Etihad Stadium.

Collingwood defender Heath Shaw won the Michael Tuck medal as best afield, while Leon Davis was also outstanding as he continues to relish his new role as a defender.

Chris Dawes and Andrew Krakouer kicked three goals apiece for Collingwood in front of 45,304 fans.

Essendon forward Michael Hurley was crucial in their comeback when they looked gone early in the third term and he starred with three goals.

Collingwood's only pre-season premiership came in 1979 and it is also the first for three-time premiership coach Mick Malthouse in his 27-year coaching career.

Essendon was in trouble at times, but they steadied impressively in the second half to cap an encouraging pre-season under new coach James Hird.

They trailed by 23 points at the last stage before Hurley kicked two out of three goals as they nearly took the lead.

But the `Pies, the pre-game favourites, steadied with a four-goal run to kill off the challenge.

Earlier, Collingwood had kicked two goals at the start of the third term for a 34-point lead and they looked in complete control.

Then the Magpies somehow made two interchange infringements in the space of a minute as the game turned.

The first infringement resulted in an Essendon goal and at the same time the Bombers were lifting their intensity.

By 26 minutes into the third term, Essendon only trailed by 10 points.

Then two goals to Collingwood, including Travis Cloke's accurate snap right on the siren appeared to blunt the comeback.

In the first half Collingwood had given Essendon a master class in defensive pressure and they took a convincing 26-point lead at halftime.

While Shaw was brilliant off halfback, Davis and Krakouer continued to be great early season stories.

Davis was dropped for last year's grand final replay, which Collingwood won for their first day premiership since 1990.

Davis has played nearly all his 204-game career in the midfield or as a small forward but has impressed through the NAB Cup as a backman.

Krakouer is looming as the AFL's feelgood story this year.

After spending 16 months in jail, the former Richmond small forward starred in WA football last year and Collingwood then gave Krakouer a second chance at senior level.

Collingwood and Essendon fielded strong sides, with Magpies premiership defender Ben Reid a late withdrawal with an ankle injury.

It emerged after the game that the first interchange infringement against Collingwood was paid in error.

Apparently, the Magpies were penalised because of a technicality when Dayne Beams took off the singlet that he was wearing on the bench as a substitute, before he had official approval.

That penalty threw the Collingwood bench into confusion and the second penalty was paid because they did not realise they had 19 men on the field.

"We lost our way - perhaps the two interchange things threw us," Malthouse said of the third term.

"I've just been informed that one of them shouldn't have been given, that was the one that they got the goal with.

"But nonetheless, you can't let that influence your focus or concentration."

Overall, Malthouse was pleased with his team's performance and said even though it was only the pre-season cup, it was still an important title to win.

"It's a premiership cup that was won - it's easy to dismiss, but any silverware is hard to achieve in an AFL competition as fierce as we've got," Malthouse said,

"It was terrific for us."

Hird was unhappy that Essendon lost, but saw many positives out of a hard-fought match.

"We're very disappointed we lost ... but our whole pre-season has shown improvement," he said.

He was particularly encouraged that Essendon did not give up when Collingwood kicked the two late goals in the third term.

"They didn't want to leave their pre-season at three-quarter time and go into the season getting blown away," he said.

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