Genk went into the game knowing a draw would be enough to win the title but they allowed Standard to dominate possession early on and the visitors opened the scoring.
Standard's French defender Eliaquim Mangala netted in first-half stoppage time after Genk failed to clear a free-kick.
"This is an unexpected title," said Genk coach Franky Vercauteren, who has also managed rivals Anderlecht and was briefly in charge of Belgium.
"We really took a hit from their goal. At the break, I just insisted that one goal for us would be enough. The players understood the message. Kennedy proved decisive but Courtois really saved us at the end."
After the regular season, each club's points were halved. Liege had an odd number of points and benefited from a rounding up of their tally for the start of the playoff matches.
Genk's total was not rounded up meaning if the two teams were level in the table Genk were considered to be ahead.
Standard and Genk have both qualified for the third qualifying round of next season's Champions League.
