The Finn, who has now won the gravel event three times, beat the Frenchman by 13.7 seconds in the fastest rally yet in world championship history.
The official wrc.com website said the overall average speed was 125.44km/h, beating the previous record of 122.89 set in Finland in 2012.
Norwegian Mads Ostberg was third for Citroen, his third podium of the season, a minute and 36 seconds behind Latvala who stood on the roof of his car in celebration after taking his second win of the season.
Ogier took three bonus points by winning the final power stage, with Latvala second for two extra points. Ogier is now 89 points clear of Latvala in the overall standings with five rounds remaining.
“This was a fantastic victory,” said Latvala. I had a really, really good drive all through the weekend.
“After Poland (round seven) I concentrated for three weeks for this event. My championship chance is over but I knew if I could win this week it would help me.”
The next rally is in Germany on August 23.
Original source: Polo dominates Finnish WRC (video)