Soufiane Rahimi scored twice as Morocco won the bronze medal by beating Egypt 6-0 on Thursday, marking the team's first podium finish at the Olympics.
Abde Ezzalzouli, Bilal El Khannouss, Akram Nakach and Achraf Hakimi also scored for Morocco, who went into the break with a 2-0 lead to the delight of the Moroccan fans at the La Beaujoire stadium in Nantes.
Rahimi scored eight goals in France, the tournament's top scorer. At 28, he is one of the oldest players allowed in the Olympic U-23 teams.
It was Egypt's third fourth-place finish at the Olympics, after Amsterdam in 1928 and Tokyo in 1964.
Morocco have been inspired throughout the tournament by their senior men's team, who were surprise semi-finalists at the 2022 World Cup. The players have also been buoyed by the loyal fans who have followed the team throughout their journey in France.
“We wanted to win the gold medal, that's for sure, but to win a match like this, to get our country's first medal here and in front of so many fans, it feels amazing,” said forward Ilias Akhomach.
The team also defeated the United States 4-0 at the Parc des Princes in Paris in the quarterfinals, but then lost to Spain 2-1 in the semifinals. Spain will play France on Friday for the gold medal.
Moroccan fans have shown their fervent support throughout the tournament. In the group stage, they invaded the pitch and threw bottles during the 2-1 win over Argentina, causing the match to be suspended for around two hours.
Rahimi's first goal came with a header in the 26th minute that Egyptian goalkeeper Hamza Alaa got a hand to but was unable to stop.
Less than three minutes before Rahimi's goal, Ezzalzouli scored from the top of the box and joined his Moroccan teammates in a prayer in the corner of the field after the goal.
Morocco saw the return of midfielder El Khannouss, who was suspended for the semi-final. He made it 3-0 by shaking off a series of defenders and scoring in the 51st minute.
Rahimi's second goal came in the 64th minute and he assisted on Nakach's goal in the 73rd.
Hakimi, who plays for Paris Saint-Germain in France, scored with a late free-kick.
“All the credit goes to Morocco. They were incredible in front of goal. They had a very high percentage in terms of finishing. For us, it wasn't like that today,” said Egyptian coach Rogerio Micale, who led Brazil to a gold medal on home soil at the 2016 Games.
Egypt was without Omar Fayed, who was sent off with a red card in the semi-final against France.
Egypt also lost winger Zizo, one of the team's older players, who was forced off the pitch in the 12th minute after going off with an injury.
