Hosts England were denied bronze as Ireland recovered from going behind to win 4-2 and claim their first ever medal at the EuroHockey Championships.
Shane O'Donoghue sealed victory with a penalty stroke in the final five seconds after England led twice through Harry Martin and Adam Dixon.
O'Donoghue and Alan Sothern levelled before Eugene Magee put underdogs Ireland in front.
Netherlands beat Germany 6-1 in the gold medal match.
England captain Barry Middleton said his side was punished for not taking their chances.
He added: "We are devastated. We put a lot into the tournament and to come away with nothing is very disappointing.
"We must learn from our mistakes and we know how much hard work we will have to put into the Rio Olympics to achieve the results we want."
Ireland's man of the match Paul Gleghorne said: "We are mixing it with the top teams in the world, teams we aspire to be like and to compete with.
"It is absolutely brilliant to get a bronze. We are delighted."
Ireland, 14 in the world rankings, stunned fifth-rated England by scoring with three of their first four shots.
Despite forcing six short corners, having 16 shots and 68% possession, England were unable to make their pressure tell.