The 26-year-old Scanian, who has had injury problems in recent years, threw 21.04 meters in the second-to-last round.
It feels fantastic to take a medal after five tough years. I've just been standing still for the last three years, says Petersson to SVT.
He started the final with a throw of 20.88 in the first round.
It was important. We talked about having a decent throw in the first round, then you can relax, he says.
"Happy in many ways"
It was a start that kept him in second place all the way. In the second-to-last round, he increased to 21.04. A throw that was initially disqualified, but later approved. But it didn't move him up in the results list.
Andrei Rares Toader, Romania, took the gold with 21.27.
It's the first time since 1971 that a Swedish male shot putter takes a medal in an international championship, the last time being discus specialist Ricky Bruch who took bronze, according to SVT.
It's incredibly powerful. I'm happy in many ways. I'm happy for my own sake. I'm happy that Sweden is starting to produce many good athletes, says Wictor Petersson in the mixed zone.
Roos fourth in the final
Fanny Roos couldn't follow up Wictor Petersson's success – but it wasn't far off.
Roos finished fourth in the women's final and her last throw, 19.26, was a season's best and only 15 centimeters from a bronze medal.
The bronze went to Auriol Dongmo, Portugal instead.
Dutch home favorite Jessica Schilder won with 20.69.
Julia Henriksson missed the final on 60 meters.
The 24-year-old finished eighth and last in her semifinal. The time 7.26 seconds was still a hundredth better than in the trials and another improved season's best.
Despite finishing 21st among the 24 semifinalists, Henriksson hopes for a ticket to the indoor World Championship in Nanjing in a couple of weeks. The last time to the European Championship final had Karolina Manasova, Czech Republic, with 7.10.
The form is on the upswing. I know I can run fast. A spot in China, then I know I can run down to 7.20 times, says Henriksson.
Federation captain Kajsa Bergqvist has not yet announced that the sprinter is clear for the World Championship.
We'll have to wait and see, says Henriksson.