Dixon went into the last round of the 10m final on the Gold Coast narrowly leading the contest just ahead of experienced Australian star Domonic Bedggood, who had led for the first four rounds.
The 17-year-old Plymothian was last to dive and knew he needed 68 points to win and claim the title that Daley had held for the last eight years. But the judges only awarded him 67.20 points, so he had to settle for silver in the thrilling competition.
It was his second silver medal of the Games, having finished second in the men’s 10m synchro final with Noah Williams.
Dixon dived consistently well all through the competition on Saturday. The Plymouth Studio School pupil was the top qualifier in the preliminary round and all his dives in the final averaged seven points or more. He finished the final with a total of 449.55 points.
Competing for Wales, Heslop was the youngest diving in the field at just 15. He was also Wales first diver at the Commonwealth Games for 20 years.
He made a great start and was in the top three after the first two rounds and was pushing for a medal right until end before finishing sixth at his first Commonwealth Games.
Heslop had also reached the final of the three-metre event, despite not being a springboard specialist.