Town boss Nathan Jones was overjoyed as the Hatters achieved promotion to Sky Bet League One with a draw at Carlisle United this afternoon.
With Exeter City drawing at home to Crawley Town, the Town needed a point at Brunton Park to ensure they climbed out of the fourth tier.
The hosts took the lead from the penalty spot when James Shea was deemed to have tripped Richie Bennett in the penalty area, with Danny Grainger converting the spot-kick.
The Hatters responded midway through the second half, Olly Lee calmly slotting in from close range after Danny Hylton's shot had been saved.
With Wycombe losing at home to Accrington, Jones' team have all but secured second spot in the division, with the Chairboys on 29 fewer goals on goal difference with two games left to play.
Jones said: "You've got to enjoy these times because they're few and far between. Six promotions I've had, but I've been in it not far off 30 years. So if you have one every five years you wouldn't take that from anything else! If you had a kiss off your wife or girlfriend every five years you would be struggling.
"To do that is a wonderful achievement and we've got to enjoy and we will enjoy it. We will make sure we're ready for next week, but we will enjoy it.
"Five of our players have been honoured in the PFA Team of the Year. We've got a night with the supporters tomorrow that we will enjoy in the right manner. But we will enjoy it because they have worked tirelessly.
"This isn't just a 90 minutes or 60 minutes of hard-work here, back in June our mindset was promotion. Our mindset was right there and we haven't veered from that. Some have been disappointed at times but they have taken it in the right way, they've created an environment that's amazing, I am so, so pleased I really am.
"As I have said to the lads we will celebrate it and enjoy it, but I want to make sure we don't go out with a whimper next week because there's still something to play for, it's difficult but there's still something to play for."