The 20-year-old defeated rival Juste Juozapaityte after a final catwalk showdown, where they got training from Daisy Lowe and America's Next Top Model star Miss J.
Host and head judge Elle Macpherson claimed that they selected Thompson as the winner because of her "special kind of beauty".
"This show is about finding a special kind of beauty. A unique modern kind of beauty... and that is what Jade is," said Macpherson.
Speaking after her victory, the young Stoke-on-Trent model said: "I can't believe it. I'm so happy. I'm numb. I didn't even cry at first. I just feel like all the hard work I've put into it... it's paid off."
Thompson's impressive prize includes a modelling contract with top international agency Models 1; a six-page fashion editorial, along with an appearance on the cover of fashion magazine Company; a £100,000 cosmetics contract with Revlon; a trip to Sandals Resorts Jamaica; an international fashion campaign with respected high-street brand Miss Selfridge and a new Peugeot RCZ.
Judge Julien Macdonald tipped Thompson to become an "amazing superstar", while Charley Speed described her as "fierce", "fun" and "intelligent".
Grace Woodward added: "Jade is like her name, she's a rare and precious stone we've found in the rough."
In an interview with Digital Spy, Thompson claimed that she wants to make her next career step in the US.
"In the near future I want to move to America," she said. "An agency in Miami wanted to sign me, so I'd love to try and make that happen.
"Also, I'd love to make a move to New York. I'd love to work with someone like Victoria's Secrets out there."