The fight was for the UFC welterweight title with Matt Serra defending. In their first fight, Serra had been a sizeable underdog and everyone had expected St. Pierre to handily smash him. Instead, Serra shocked the world by defeating the renowned young champion by technical knockout. This, their second fight, was on the first UFC event taking place in Canada, in St. Pierre's home province of Quebec.
The first round began with Serra pushing forward. St. Pierre instead secured a solid takedown promptly, right into half-guard. Serra scrambled desperately, managing to retain guard but eating a few elbows from St. Pierre in the process. St. Pierre began to punish Serra from the top, passing his guard at will seemingly. St. Pierre passed the guard finally into side control and then took Serra's back, hammerfisting from the dominant position. Serra got to his feet after a few seconds to a general ovation, and the striking finally began. St. Pierre tried for a Superman punch and then hit the takedown again, moving quickly to half-guard and then full mount and then side control in a rapid sequence, followed by taking Serra's back and ground-and-pounding. Serra was saved by the bell and the first round ended.
The second round began and they touched gloves. St. Pierre went for the takedown once more and forced Serra right into the cage. Serra struggled to get to his feet but St. Pierre took his back. Serra managed to get up finally and threw a Superman punch, missing. Serra landed a head kick and St. Pierre tried for a spinning back kick. They exchanged punches in the clinch and then Serra let his hands down and ate quite a few jabs. He was taken down again, against the fence. Serra pulled guard after a few seconds of ground-and-pound. St. Pierre took his back once more and began landing repeated hard knees to Serra's kidneys. Serra rolled and caught a few strikes. St. Pierre passed to side control, took Serra's back, and hammerfisted once more. He began throwing the hard knees continuously into Serra's midsection. Serra turned and St. Pierre kept throwing the strikes. Serra rolled and St. Pierre kept throwing the knees. Then it was over. St. Pierre was the new welterweight champion. Serra congratulated St. Pierre, lifting him up and carrying him around the cage. They hugged.