text: They ended up falling one game short of the grand final, losing to the Sydney Roosters, 19–16.
  North Queensland would go one better in 2005, when they reached their first grand final in club history. With the help of new recruits Carl Webb and Johnathan Thurston, the side finished in 5th spot and with back-to-back finals appearances. They would ultimately lose the grand final to the Wests Tigers.
  In his first year with the club, Johnathan Thurston won the Dally M Medal and made his State of Origin debut for Queensland.
  2006–2007: Further improvement
  In 2006, the Cowboys started the year with a 6-game winning streak and looked destined for another finals appearance, before ending the season with just 5 wins from 19 games and finishing in 9th position.
  The 2007 season saw the Cowboys 3rd finals appearance and their first top 4 finish. They faced the Canterbury-Bankstown Bulldogs in Townsville in week 1 of the finals, scraping home by 2 points. The following week, they defeated the New Zealand Warriors at home by 37 points. They fell one game short of the grand final again, this time losing to Manly, 28–6. 2007 saw the retirement of club legend Paul Bowman, who took up a coaching role with the team in 2008.