Frenchman Roddy Darragon took a surprise silver on the 1.3 km course at Pragelato.
Italian Cristian Zorzi failed to repeat his relay gold medal form, although he breezed through both his heats Wednesday.
Zorzi was battling with Lind and Fredriksson in a tactical final race, when he appeared to be obstructed when the bronze medallist crossed his path on the last curve.
Norwegian Tor Arne Hetland, another favourite, fell in his semi final heat while trying to pass Lind, the World Cup leader, pushing him out of the final.
Thobias Fredrikkson paid tribute to Lind, describing the 27 year old as “the world’s best sprint skier”. He may also be the world’s happiest.
“It feels completely, unbelievably, wonderful,” the gold medallist told SVT.
Lind’s first gold of the games was in the team sprint last Tuesday.
“It felt really good after the first gold. If it could be any better than that, it is now. Now I can crack open a bottle of champagne without worrying about another race,” he said.