Dennis Smith Jr's dunk was a stand-out from the bunch, as he dunked over J. Cole.
But Diallo topped out with a two-handed jam, plucking the ball in mid-air to two-hand slam for the win.
Diallo was the best despite being the underdog, the only dunker without Tobacco Road ties (Smith Jr. went to N.C. State, Collins went to Wake Forest, Bridges plays for the Charlotte Hornets), the lesser-known of the prospects, and the only rookie.
As it turns out, Diallo had actually planned on dunking over Wade, his childhood idol, but when Smith used Wade for his dunk, Diallo switched to Quavo. While the showpiece All-Star game will take place later tonight, Saturday's events are always grab your attention. "Diallo polished it off with a nod to Vince Carter's famous 2000 elbow dunk by hanging with his elbow in the rim".
The showcase featured three events: the Skills Challenge, 3-Point Contest and Dunk Contest.More news: PM: Brexit deal leaves United Kingdom 'better off' despite dire forecasts
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Sacramento Kings shooting guard Buddy Hield joins Booker at +450, followed by Seth Curry at +550, while Damian Lillard, Kemba Walker, and Joe Harris each sport +900 odds.
Curry seemed up to the task, making his first nine shots, but he slowed down during the third and fourth racks, needing a ideal money ball rack just to tie things up.
Tatum defeated Memphis' Mike Conley in the first round, then topped Denver's Nikola Jokic in the semi-finals. On his first Finals dunk, Smith tried to go with a between the legs 360 but missed twice. "I knew if I did what I had to do I was gonna bring the trophy home". "Just had a nice time out there", Diallo said.
In what will likely be his final National Basketball Association season, Dirk Nowitzki went out with a strong performance in his last 3-Point Contest.